StormPay Investigations Into Illegal Get Rich Quick and Ponzi Schemes
Posted on February 6, 2006
Filed Under Merchant Accounts, Scams, Third Party Merchant Accounts
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Update on StormPay:
Government investigations into Ponzi, Get Rich Quick and Pyramid schemes have prompted StormPay to close accounts by violators. In retaliation to their internal checks and filtering out of these illegal businesses the site has been bombarded with denial of service attacks and malicious slander in an attempt to tarnish their reputation and interfere with third regular business.
["Rumors Put To Rest.
05-Feb-2006 08:38
Recently StormPay.com closed the accounts of what appear to be some major ponzi schemes. These account closures came as the early results of investigations into those businesses by outside investigational organizations as well as our own internal investigations.
As a result, possible victims of these businesses are attempting to retaliate against StormPay.com by spreading false rumors and performing DDOS attacks against StormPay's servers. The rumors include such things as "StormPay.com has gone out of business", "Their building has been burned down", and other falsehoods. The DDOS attacks are "Denial of Service" attacks where massive amounts of traffic is sent to the website whereby disallowing legitimate web traffic to reach the website. These attacks only prevent legitimate traffic from reaching the website and pose absolutely no threat to the security of your StormPay account.
StormPay will CONTINUE to cooperate with authoritative investigations into these businesses which very heavily appear to be nothing more than illegal ponzi or pyramid schemes. Our hopes are to get these investigations completed as early as possible so that victims can quickly be refunded monies that have been captured in those account closures. However, we must warn that those who are impeding the investigation are only slowing the process for everyone involved.
StormPay Inc."]
It’s good to see that the staff at StormPay are seeking to maintain their business integrity as a bone fide 3rd party processor who are actively screening and reporting illegal activities of some vendors disguised as ‘work at home’ opportunities are closed out of the system. I only hope that most people will not have fallen victim to these illegal sites and that they will be compensated for any losses.
Stay safe online,
Nancy
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