How to Combat Credit Card Fraud

Mail Order firms and E-Commerce Internet operators are continuously confronted with a greater prospect of having a fraudulent credit card transaction compared to the retailers who run physical storefronts.

Since neither the cvv shop online nor the card is physically present throughout the transaction, the retailer does not have any actual method of readily determining whether they are working with a valid customer.

According to a report issued by the U.S. Federal Bureau of Investigation (F.B.I.) in conjunction with the Internet Crime Complaint Center (IC3):

“debit and credit card fraud included 6.3percent of complaints received in 2006.”

This represents more than 60 Billion (. U.S.) in lost earnings to retailers that accept debit and credit cards for online transactions. Though a few of these reductions are insured by the Issuing Bank, who might frequently repay the retailer’s if each the bank card approval and processing principles were followed some of the loss might nevertheless be passed back to the retailers in the kind of bill backs.

You can help Lower Your risk of experiencing charge card fraud

1. Review all Orders . Make sure that the client full of each the appropriate areas. Check to be certain the order passed your credit card processor’s Address Verification Check (AVS). Most credit card transactions that are fraudulent don’t pass AVS.

2. Be skeptical of orders using another Ship To and Bill To address unless this purchase is from an present client and that is part of the regular ordering procedure. Nevertheless, stay awake in the event the client has entered another Ship To address in the one which they generally use.

3. Be alert to the usage of Free Email Addresses. Nearly all credit card crawlers use free email addresses from HotMail, Yahoo and other free email suppliers.

4. Keep all trade documentation. Ensure your shopping cart shops the I.P. address which the client utilized when visiting your website in addition to the time and date of the trip. If you’re involved in a fraud investigation, this info will be helpful. Add their Caller ID info In case you have phone contact with the client.

5. Be Suspicious of sequence sums that are large that are first-time. If your initial contact with a brand new client is for a remarkably higher dollar amount, particularly if they’re requesting overnight delivery services, then call the client to confirm their contact info.

6. Verify customer phone numbers and addresses with any of those free White pages internet sites such as Whitepages.com.

7. Call the client if unsure. You can prevent being scammed simply by obtaining the customer they supplied on the purchase form. If you cannot attain the client, or when the person at the number doesn’t have any idea who the client is, then cancel the purchase. It is far better to be safe than sorry.

8. Ensure your purchase form requires the client to input the Card Verification Value (CVV) amount that’s printed in their charge card. And ensure your applications passes this respect with a own credit card chip. Knowing the CVV suggests the cardholder is in possession of their credit card and not using a number they obtained from somewhere.