Attention Niagara Business Owners:
Beware of telephone solicitors requesting financial statements

It has been brought to our attention by the St. Catharines-Thorold Chamber of Commerce that an organization called the Canadian Merchant Association is contacting Niagara based companies seeking information – including financial details. Many St. Catharines Chamber of Commerce members have been solicited by the “association” and have been requested to submit statements and other documentation as a form of validation for review.

This is never a wise practice, providing any information, to an unknown party. The Chamber has been able to obtain some information from the solicitations and an investigation indicates that this is indeed a “third party” processor, working on behalf of a US based provider, operating out of a call centre in the Montreal area.

If you operate a local business, please ensure that you do not submit any documents (merchant or bank statements) to an entity that is unknown to you.

Also, besides varying rate offers, all merchants should be cautious about service and support from a provider with limited hours of operation and are foreign (US) based (all Canadian merchants are governed by domestic regulations). As well, it is a good idea to remember that if an entity does not have a physical presence or can represent themselves in person, it might be best to refrain from conducting business with the entity.

If you have any questions about this issue, please contact your local Chamber of Commerce.