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Intercash Scam Safety: What is a Payment Scam?

Updated: Jan 18, 2021

September 2nd, 2020 - With over 20 years in the payments industry, Intercash has worked with hundreds of businesses and banks throughout the world. Intercash takes great pride in the payment products and turnkey services we provide our customers. We deliver convenient and effective solutions for banks, corporations and SMBs. Intercash also works hard to keep our customers’ money secure. We employ AML (anti-money laundering) best practices and keep our customers’ funds safe from fraudsters and extortion schemes. Yet even with all this security, it’s true that cardholders should always be weary when handling their money and dealing with payments.

When it comes to business expenses, companies can be just as vulnerable to fraud as consumers. For clients of Intercash, a scam is far less likely. Our customers enjoy peace of mind knowing their money and personal information are well-protected. Additionally, there are other measures that Mastercard and VISA cardholders can take themselves. You can take steps to avoid getting involved in a case of fraud or extortion. It’s important for cardholders to understand what payment fraud is and how they can steer clear of such dangers.

By definition, payment fraud is when any type of false or illegal transaction has been completed. These criminals often take money, personal property or even financial information from their victims. There are many types of payment fraud to watch out for, such as:

Phishing Scam

Phishing consists of any emails or websites that ask for personal and private information. These criminals often pose as financial institutions. They will ask unsuspecting victims for their Mastercard or VISA card information, their bank account numbers or login credentials. You should never share this information with anyone online. Even if they say they’re from your local bank, these requests are often phishing attempts. Despite the security of Intercash, this tactic can be very effective if the cardholder is not careful.

Data Theft

The idea that all your personal data can be stolen in one fell swoop is a scary prospect for businesses. This can occur when criminals and fraudsters pay for stolen information. This may include your Mastercard or VISA card numbers, home address, date of birth and more. These details can be dangerous in the hands of criminals. Thankfully, many of today’s business use custom data encryption to ensure the security of the information.

Identity Fraud

This is another common form of payment fraud that occurs both online and in the real world. This type is also referred to as identity theft as a person’s true identity is being stolen. It occurs when a criminal wrongfully uses another person's personal information in any way that involves fraud or deception. Your local bank may work to prevent this type of fraud but it is also the responsibility of each individual.


Pagejacking is an online scam affecting certain websites; criminals can hack in to your company’s website and redirect your web traffic over to a site of their own. Their website acts as a landing page that appears safe, perhaps even similar to your company’s website; in reality, it often contains malicious elements that hackers use to infiltrate a network security system.

Fraudulent Card Payment

A consequence of data theft, this type of fraud occurs when stolen data is used to complete actual transactions. The personal details that were stolen are used to complete transactions for actual products or services. This makes it seem to merchants that the process is true and legitimate, even though your Mastercard or VISA card is stolen.

At Intercash, scam tactics are something we’re constantly on the lookout for in order to keep your account safe. We remain up to date with AML security measures, implementing all of the required AML regulations.

In today’s world, payment fraud can occur online at your computer or offline at a retail location. It could happen to you when you lose your prepaid card or even if it rests safely in your wallet. The point is that it’s important to understand how payment fraud works. Businesses should learn how to avoid a potential payment scam or extortion scheme and keep their money safe. If you have a Mastercard or VISA card program with Intercash, rest assured your money is being well-protected.


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