If i'm not mistaken, PayPal has similar loophole as well. Yes it's a loophole, not negligence & yes it's favoring the buyers. So some dedicated scammers are scamming businesses this way. There are some threads on similar cases with PayPal; scammer disappear after receiving the item & disputed the transaction with PayPal.

Red flag #1 - disputed transaction. I've personally experience this & the banks will contact the buyer & reveal all the transaction details including e.g. time of purchase, item bought, the location etc. Then will ask again if the buyer still want to proceed with the dispute.

Red flag #2 - number unreachable after 6 months. Coincidence? How likely someone disappear after winning a dispute case?

Why do you have to pay ipay88? You item is gone & ipay88 refunded the scammer, how could ipay88 ask you to pay on the scammer's behalf?

Look at the Top Online Payment in Malaysia chart. Then study your own customer behavior, do they usually use those payment gateway? After all those consideration, decide for yourself how you wanna learn from this incident. If all your products are costly, you might wanna remove ipay88 & PayPal services off entirely. Unless more than half of your transaction is paid via ipay88.

My definition of costly; high margin or low margin. If you margin is hovering around 10%, that's costly for me. If your margin is 200%, probably can absorb the loss if it's not too frequent.

This post has been edited by NightHeart: Feb 15 2017, 08:56 PM