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Merchant Credit Card Fraud
Today there are many precautions you can take and programs you can join to keep your identity from being stolen.Credit cards companies are feeling more and more pressure from consumers and the government to make the world of lending money safer. With all the new guidelines and safety measures, it is hard to believe that little has been done to protect one the other victim of credit card fraud; the merchant. When a thief uses fraudulent credit card information to purchase your goods and services, you are at risk of not only losing the money from the transaction, but you are also charged the hefty chargeback fees. Fortunately, there are ways to prevent credit card fraud and protect your online business.
It is important to take extra time to validate each order. Do not accept any order unless you receive all the customer’s information including full address and telephone number. You should also go through an address verification service like the Address Verification System.
Be aware that certain order types are more suspicious than others. Orders with different “bill to” and “ship to” addresses are sometimes a sign of fraud. Many scammers know that the AVS will check only the “bill to” address for validity. Also, they may order a large amount with same-day or next-day shipping because the cost is of no matter to them. International orders are also very hard to trust because the Address Verification System does not work in most countries. You should be on alert when faces with these types of orders.
Finally, if you are suspicious at all of any order, call the customer to confirm. That quick phone call will save you a lot of time and money. Also,it is a courtesy, because if the order really is fraudulent, you will be informing the consumer of a stolen identity and saving them a large headache.
It is important to take extra time to validate each order. Do not accept any order unless you receive all the customer’s information including full address and telephone number. You should also go through an address verification service like the Address Verification System.
Be aware that certain order types are more suspicious than others. Orders with different “bill to” and “ship to” addresses are sometimes a sign of fraud. Many scammers know that the AVS will check only the “bill to” address for validity. Also, they may order a large amount with same-day or next-day shipping because the cost is of no matter to them. International orders are also very hard to trust because the Address Verification System does not work in most countries. You should be on alert when faces with these types of orders.
Finally, if you are suspicious at all of any order, call the customer to confirm. That quick phone call will save you a lot of time and money. Also,it is a courtesy, because if the order really is fraudulent, you will be informing the consumer of a stolen identity and saving them a large headache.
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