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Credit Fixing Tips > Credit Card > Merchant Credit Card Fraud
Merchant Credit Card Fraud
Merchant Credit Card Fraud:
The following simple routine takes no more than a few minutes, but allow merchant to make sure that details entered by clients are correct, therefore making it impossible for card fraudsters to use merchant’s payment routine.
Fraud Prevention Tip 1: Merchants should remember to obtain a signed sales docket, and confirm the signature matches the signature on the back of the customer's card. Asking to see the customers identification (ie... Drivers License, State, Government, or Military ID) should in most cases protect against fraud provided that the identification card is valid.Requesting additional identification.
Fraud Prevention Tip 1: A common technique to prevent 'non-matching plastic' (credit cards which have been re-encoded with a different skimmed dump) which is employed by many companies, is to confirm that the last four digits embossed on the card match those on the magstripe (and therefore the sales receipt). This is called 'checking last four'.
Fraud Prevention Tip 1: Merchants should also obtain proof that the customer's card was present at the point of sale. They can obtain this proof either by electronically reading and submitting certain data present on the card's magnetic stripe, which is done automatically by most point-of-sale systems, by creating a manual imprint of the raised digits and symbols on the card with a manual card imprinter, or by reading the card's smart chip if it has one.
Fraud Prevention Tip 1: When a credit card order is received by phone, the merchant can require the customer to also fax copies of both sides of the credit card. This at least provides proof that the customer has possession of the credit card at the time of the order. Some merchants also require a copy of their state-issued ID, or driver's license. It also provides additional proof the person authorized the purchase, preventing a chargeback.
Fraud Prevention Tip 1: The Card Security Code can also be requested. As this number is printed on the card's signature strip or front but stored nowhere on the card, it can be used to verify that the customer has the card in his or her possession and that the card was not stolen by a "skimming" process.
Fraud Prevention Tip 1: Calling customers is not only an excellent way to detect fraud, but it can also be a valuable part of customer service. Sometimes the fraudster will submit the actual phone number of the person whose card was stolen. If the card holder did not authorize the charge, suggest that they call their credit card company to report their card as stolen.
Additional Links:
Debt Collecting Agencies
Credit Bureau
Consumer Credit Management
Negotiating with Creditors
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