Federal authorities are sounding alarms about an array of fraudulent schemes involving a favorite money card product that is prepaid.
Numerous of customers have now been lured into delivering cash through the card, called MoneyPak. For on the web fraudsters, the green-and-white paper card which can be used to quickly вЂњreload,вЂќ or move, a huge selection of bucks in money onto another prepaid credit card can be the cash conduit of preference, regulators and police officials state.
The abuses are mounting since the market in prepaid cards is increasingly finding favor with Us citizens whom donвЂ™t gain access to a conventional banking account or charge card. Continue reading “Without a doubt about MoneyPak, a well known Prepa”