#94 Michael Simister. Drop Ship Triangulation Fraud, INFORM Act, and More. The Brett Johnson Show.

The Brett Johnson Show

Michael Simister is a successful businessman. And here is The Rule: If you have a Product or Service which makes Money? A Cybercriminal can and will make money from the same Product or Service.Welcome to the Crime of Drop Shipping Triangulation Fraud. Cross Platform Style. Someone relists your item under their seller account on a different platform. At a higher price. They sell it. Then they order it from you to deliver to their buyer. Once delivered? Well, they inform your platform that it was never received. So the crook gets the money from the sale, and the crook gets their money back from purchasing it from you.You? You are out the product, the shipping costs, the money wrongly refunded, and the 15% that the platform (Amazon) charges to host your item.And that's just one way this fraud occurs. Michael Simister discusses how his company has been victimized by this fraud. He also discusses his efforts in tracing down the criminals in question .Is that all? No! MIchael discusses the INFORM Act which was instituted to help combat these issues. Michael explains how companies like Walmart handle the INFORM Act. Ineffective? To say the least.How does one stop this type of Fraud? Well, Companies working together might help. But they don't. And they wont. And they are making money from these fraudulent schemes. In Michael's case 15% per sale.Michael Simister sits down to discuss this crime and how it's done with Former US Most Wanted Cybercriminal, Brett Johnson