Bike shop gets scammed....

The Kalmyk

Well-Known Member
#22
Amex definitely sides with the customer not the retailer.
You mean in some instances of course!?!

My old man puts 50000-200000k on his Amex card monthly for work; he also accepts Amex. I'm willing to bet he deals with more fraudulent transaction than anyone on this board.
 
#23
You mean in some instances of course!?!

My old man puts 50000-200000k on his Amex card monthly for work; he also accepts Amex. I'm willing to bet he deals with more fraudulent transaction than anyone on this board.
I use to be district lost prevention for Best buy, I'll take your bet and payment in ribeye
 

The Kalmyk

Well-Known Member
#26
Can my spouse get in on this? Her team processed $6B in revenues last year. Even with all of the preventative measures,
which drive the fraud rate down to fractions of a percent.....well, math.
6 Billion? Damn!!!!

My old man has well over 20 McDonalds unit in Queens, Manhattan and NJ. Including the second highest transactional McDonalds globally in Times Square. If I had to guess total transactions exceed 20million annually. I don’t know what percentage of that is fraudulent card use. That’s all I got.
 

Patrick

aka Fidodie
Staff member
#31
Wait - we are going out for ribeye?
can we wait until the sun stays up a bit later and make it a ride with food afterwards?
we'll go dutch - (BTW, i now know where this term came from)
 

Johnny Utah

Well-Known Member
#32
Child’s play, I get to deal with corporate impersonation on a daily basis. Some of the criminal outfits are getting very good. Credit card stuff is for the bottom feeders when they can get a wire sent out for millions.
 

The Kalmyk

Well-Known Member
#33
Child’s play, I get to deal with corporate impersonation on a daily basis. Some of the criminal outfits are getting very good. Credit card stuff is for the bottom feeders when they can get a wire sent out for millions.
Is it your money on the line? It’s a different feel when it is.
 

Johnny Utah

Well-Known Member
#35
Is it your money on the line? It’s a different feel when it is.
You would think, but with the size/reprocussions it feels like it. All love, less than 50 franchise locations is child’s play. The big targets come after companies with large cash deposits. $10MM and above. They usually come in through email takeover. If I loose to one of these guys my life in this industry is over.
 

Patrick

aka Fidodie
Staff member
#36
We have google too, new Luke.
nah, step family is dutch. 1st hand knowledge.

Is it your money on the line? It’s a different feel when it is.
this is true. my wife's favorite saying to someone who says they don't have fraud is You don't have it until you look for it.
employees, customers, policy, procedure, customer service, ex employees, collusion..

here is a new one. amazon lets you return stuff purchased on a credit card and leave the balance on the account.
So you use your business card to purchase supplies. you have a receipt, get reimbursed, return them, and boom,
new bike tires. this is a serious violation of the credit card rules. they don't care.
 

The Kalmyk

Well-Known Member
#37
You would think, but with the size/reprocussions it feels like it. All love, less than 50 franchise locations is child’s play. The big targets come after companies with large cash deposits. $10MM and above. They usually come in through email takeover. If I loose to one of these guys my life in this industry is over.

https://en.m.wikipedia.org/wiki/List_of_Major_League_Baseball_career_batting_average_leaders

The link above is a list of the BEST batting averages all time. Some names on there are house hold. Ty Cobb leading the pack at .366


You wake up everyday and pretty much have to bat a 1000. That is major stress dude. Much respect.