- Report: #1015182
Complaint Review: The Factor Exchange - Newport Beach Nationwide
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Las Vegas, Nevada, United States of America
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The Factor Exchange
220 Newport Center Dr Newport Beach, 92660 Nationwide, United States of America
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Web:
Www.thefactorexchange.com
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The Factor Exchange! Newport Beach, Nationwide
Secret Service on Cash-Advance Fraud Agent: 'Banks Must Follow Protocol'
By Tracy Kitten, Febuaryl 15, 2013. Follow Tracy @FraudBlogger Credit Eligible Share on print
Secret Service Agent Todd Bagby says cash advance scams like Factor Exchage schemes are easy to fight, if banks follow best practices and in-house guidelines. A recent wave of credit card cash advance scams that have targeted smaller banking institutions in Georgia and Oklahoma highlight the need for financial institutions to fill security and due diligence gaps. [See, Banks Hit by Factor Exchange Scam.]
RELATED CONTENT Career Transitions: Making Big Moves New PCI Guidelines for E-Commerce Visa's New End-to-End Encryption Service 2013 Mobile Security, Payments Outlook When Cybercrime Isn't Treated as a Crime RELATED WHITEPAPERS DDoS Attacks: How to Reduce Your Risks Fighting Banking Fraud Without Driving Away Customers The Threat Within: The Case for Zero Trust Access Control Simplifying Employees Investigations "A lot of it is probably what the banks already know," says Bagby, resident agent in charge of the U.S. Secret Service office in Dayton, Ohio. Last month, the Dayton, Ohio, office brought charges against LuQuada Dixon of Oakland, Calif., on allegations she duped bank tellers out of thousands of dollars through cash advances on stolen credit cards.
"If someone comes in and is not a customer and wants to offer your business cash advances on behalf of Factor Exchange , some bells and whistles should go off," Bagby says. "Businesses should just follow their own protocol and use their own contacts to identify the person on the other end of the line" when a request for a forced cash advance is made by the fraudster or approved by someone the fraudster asks the teller to call.
Problem is Not Isolated Though the most recent cash-advance schemes have targeted smaller institutions in the southeastern U.S., Bagby says cash-advance crimes occur throughout the country. "It's a nationwide scheme," he says. "Geographically, it's pretty common, and it's not something that takes a lot of forethought. The forced transaction request is somewhat uncommon, but the credit card advance scheme goes way back." Bagby says Secret Service offices across the country are working in tandem to track these incidents, since the perpetrators appear to have some knowledge of the banking industry and system. Most of the schemes to date have involved stolen cards, but the cloning of card numbers for the creation of fake or so-called white cards also has been identified by investigators tracking these incidents.
1 Updates & Rebuttals
Fighting Back
California,United States of America
Libel and Slander by Richard Johnson and Robert Goodrich
#2REBUTTAL Individual responds
Sat, February 16, 2013
This was posted by Richard Johnson of Macscon Financial Services. Richard Johnson and Macscon prey on startups to suck as much capital out of a business possible putting a tremendous amount of stress on the organization. When we realized that Richard Johnson was not going to raise capital for us and was milking us for every penny he could, we parted ways with him. That is when the posts on this site and the death threats started. Each and every post you see on this site is made by Richard Johnson and his lackey Robert Goodrich. Robert Has a history of these types of attacks which I have referenced below. In a combined effort
they have attacked me and my company online and over the phone. This has all happened because we simply said NO to a parasite who wanted an incredible amount of the company coupled with a ridiculous
percentage of capital raised. Richard Johnson will bring your company to its knees if you let him anywhere near it. We have survived Macscon and Richard Johnsons attacks and are thriving. In a way I feel bad for Richard Johnson, Robert Goodrich, and Macscon Financial Services, their situation and leadership are so dismal that the crouch in the shadows and attack the companies that they were unsuccessfully able to help.
If you have had the same experience with Richard Johnson, Robert Goodrich, or Macscon Financial Services please email us at getrichardj@ gmail. com and our legal team will reach out to you. Do not let this corporation victimize you.
Eric
http://www.ripoffreport.com/business-consultants/robert-goodrich-nati/robert-goodrich-nationwide-la-4631e.htm
http://www.ripoffreport.com/loan-modification/robert-goodrich/robert-goodrich-scammer-patho-13c3b.htm
