Screen fraudulent merchant accounts
You can run the Merchant fraud check to learn whether a company or its associates may have fraudulent merchant accounts.
The check searches a company and up to 5 of its associates (who are individuals) in the data provider's Terminated Merchant Files (TMF) database to see if they match any fraudulent accounts.
Confirm associates are on the profile's verification list(s)
A minimum of 1 company associate is required to run this check, so the first step is to confirm that at least one of the company's verification lists contains an associate who is an individual with an address.
Only the 5 first associates (who are individuals with addresses) added to any of the verification lists will be used in the check. For example, if 1 associate is added to the Identify authorised persons list, then 10 associates are added to the Identify shareholders list, the authorised person and the 4 shareholders added first will be used for the check.
1. Go to a verification list
To see a verification list, go to the company profile and click any of the following tasks:
When you click the task, the verification list is displayed on the right (with the exception of the Identify authorised persons task, where the verification list takes up the whole task).
2. Find an associate who is an individual
To see which associates are individuals, look for the Individual label below the associate's name.
3. Confirm the individual has an address
To confirm an associate has an address:
- Click the associate's name. You are redirected to the associate's profile.
- Click Profile data. If an address exists on the profile, it's displayed under Information.
Run the check
- Go to a company profile's Assess merchant fraud risk task.
- Click Merchant fraud check. The screening results are returned.
Reading the results
The check returns any matches for the profile and associate(s) and displays them in the Potential matches list.
Any results that have been searched recently by other members of the TMF network are displayed in the Previous inquiries list.
To see more information about a potential match or previous inquiry, click the match name.
The match details display all available information from the data provider about the company data, the associate data, and the reason the merchant is on the list.
For potential matches, the reason the match's account was terminated and the contact details of the merchant that filed the report are also displayed.
Confirming or ignoring the potential matches
To confirm or ignore a potential match, click Resolve match, select your decision, then click Save decision.
Optionally, you can add a comment to explain to your colleagues why you've made the decision.
Confirmed matches are displayed on the Matches list, which is created when you confirm the first match.
Ignored matches are displayed on the Ignored matches list.
To return a confirmed or ignored match to the Potential matches list, click the match name and click Review decision.
Once the check is run, the company and its associates are monitored for 360 days to see if any new matches have been discovered.
If a new match is discovered, the task is marked as incomplete.
The new match is displayed in the Potential matches list, where you can confirm or ignore it.
If you revert the decision, ongoing monitoring will only restart automatically if the check is configured as an automatic check for the task.
If it's not an automatic check, you can restart monitoring by manually running the Merchant fraud check again.