 Top Steps for Avoiding Credit Card FraudPublished Date: 2009-07-08 16:14:09 WorkOnInternet.com
When conducting transactions without the cardholder (online, phone, mail, etc): - If an item has to be collected ensure that the card is presented by the cardholder before handing over the product. - Make sure that the name and address provide correlate to those on the bank’s records. - Always ask for the card’s security code. This is typically a 3 digit code located on the signature strip of the card (although depending on the bank and type of card its location can vary. - If the transaction is conducted via fax/mail order ask that the customer also send in proof of address. - Many banks offer additional security for users that are signed up for online banking. This requires them to enter a unique password when they try to conduct an online transaction. When conducting transactions in person: - Check that the bank has not flagged the card as either lost or stolen. If you are suspicious call the bank to verify. - If chip and PIN is used make sure that the PIN is correct and if an older card is presented make sure that the signatures match. - Be wary that the card has not been physically altered in any way. Most banks can provide literature explaining how to identify this. - Always be on the lookout for unusual or suspicious customers and purchases. - If a card doesn’t swipe, contact the bank. Faulty magnetic strips are a common sign of fake cards. If you are setting up an online business ensuring that transactions are secure can be simplified by engaging the services of a payment service provider that can set you up with totally secure payment gateways.
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