According to surveys, most cases of credit card fraud happen without the real credit card holder’s knowledge. In fact, identity thieves can steal your credit card information and commit fraudulent acts even without the actual cards in their hands. Yes, even if you have your credit card safely in your wallet, someone may already be using your account without your consent.
Different strategies are used to achieve these crimes. Small “skimming devices” can be used to obtain data from your credit card. Skimming can be done in just seconds when you hand over your card to a waiter or a cashier to pay your bill.
“Phishing scams” or “phishing websites” are also a common tactic used to steal information. Perhaps you may have received an email that appears to be from a well-known merchant or a government agency. The email may require you to provide some of your personal details for “verification purposes”. Unsuspecting victims may reply to such emails not knowing that they’re actually giving away their personal information to thieves.
It could take several months before you realize that you’ve already been victimized by ID theft or credit card fraud. You may not know it until your credit card issuer calls you up regarding unpaid purchases that you did not make.
Business Owners Watch Out!
Even business owners are not exempted against credit card fraud and ID theft. The best way to protect yourself is to take the necessary precautions especially with customers who pay using credit cards. Here are some ways you can do to protect your business:
1. If your customer is paying with a credit card, always ask for proper identification. Ask your customer to present a valid proof such as driver’s license, passport, student ID or company ID.
2. Carefully examine the signature. Make sure that there are no erasures or. If there is, it is possible that the card may have been stolen and the signature may have been altered.
3. When examining IDs, see to it that the signature on the ID presented and the signature on the credit card slip matches.
4. Check the credit card’s signature panel. Authentic credit cards from MasterCard or Visa each have their own distinct color designs. Fake credit cards can be discolored, erased, painted, or covered with tape. Also, check the hologram on the card and make sure that it’s not tampered or damaged.
5. Call the credit card issuer if you have any doubts. Make sure that when you make the call, you still have the customer’s credit card on hand.
6. Alert your sales staff about credit card fraud and train them to take precautionary measures.
7. Protecting your business from credit card fraud would be easier if you know the signs. Be alert especially if a customer is:
- orders a suspiciously large bulk
- orders a large bulk and asks for an overnight shipping
- uses multiple credit cards with numbers arranged in sequence
- asks that the goods be delivered overseas
- uses different credit cards to pay a single purchase and uses only one delivery address
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Pamela Williams is a Loan Consultant, Internet Marketer and Writer. For years she had helped consumers and business owners especially regarding business credit cards. This resource is dedicated particularly on business credit card reviews, articles, tips and advice, and online application so that consumers and business owners may compare which is the best business credit card for their business. Copyright 2010 |
