SirDice said, "It's not uncommon for an ISP to rent IP ranges from bigger ISP's." Is that why an IP address from one country would be shown by some IP locators to be in another country? For instance, the IP 203.210.221.235 is an ISP from Viet Nam, but IP2Location says that the physical location is Scottsdale, Arizona.

In my job as a fraud investigator for an online payment processor I frequently need to determine the physical location from which orders are placed. I'd like to understand more about how it is that some country's IP addresses sometimes appear to be physically located in another country.

Matthew