Fake
AMEX
As if
merchants didn't have enough to worry about with chargebacks and
increased interchange rates, now they have to worry about counterfeit
credit cards!
A Worcester,
Massachusetts man was recently found guilty of making, using, and
trafficking bogus AMEX cards. The man employed people to shop with
the cards at retail stores and to bring the purchases back to him,
which he then fenced for cash.
He faces a
penalty of up to 15 years in prison and/or a fine of $500,000, but
merchants now bear the added burden of having to verify the validity
of the credit cards they accept.
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