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3 Tips To Protect Your Business From Fraud
Wednesday, February 13, 2019

In 2018 roughly $9 billion dollars were lost due to credit card fraud. We’re already halfway through the 2nd month of 2019 and it’s important to take the proper steps to protect your business. Don’t become part of the statistics this year.

Below are 3 tips to protect you and your business from credit card fraud.

Tip #1 Inspect the Card

Pay close attention to the card you plan to run through your system. Never accept an expired card or one that appears to have been altered. Make sure the card is signed and if it is not, check the ID of the customer to make sure the names match. Verify that the account number on the terminal matches the account number on the card and lastly, make sure the name on the sales receipt matches the name that appears on the card.

Tip #2 Be Extra Cautions for CNP (Card Not Present) Transactions 

Require the cardholder’s credit card number, validation code, and expiration date. As well as the name that appears on the front of the card, the cardholder’s billing address and phone number. Be wary of orders from outside of the country, shipping and billing addresses that don’t match, larger-than-normal orders, very small orders (if it’s out of the ordinary for your business), and orders from an untraceable email account.

Tip #3 Become PCI Compliant

Being PCI compliant will decrease your risk of security breaches. PCI DSS provides a baseline of security requirements that help businesses know what to do and where to start on their security program. Not only does becoming PCI compliance decrease your risk of a breach, it also saves you money by putting you in the ‘less risky’ category with your processor, resulting in smaller monthly fees. You can learn more about OMEGA’s Data Protection Program here.

Following these three tips will help you have a fraud (and worry) free year!


Blog Categories

  • Miscellaneous
  • Just For Fun
  • Payments Industry
  • Products and Services
  • Data Security and Fraud Prevention
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    • 04/29/2019 - Gift Cards: The Gift That Thie
    • 04/03/2019 - Chargebacks: What Are They and
    • 02/13/2019 - 3 Tips To Protect Your Busines
    • 11/12/2018 - Are you PCI Compliant?
    • 03/14/2018 - Merchant Guide: 10 Essential T
    • 02/12/2018 - Common Business Scams and How
    • 02/09/2018 - Data Security Fast Facts
    • 01/17/2018 - Vulnerability Scanning vs. Pen
    • 01/17/2018 - BBB Warns of Email Scams This
    • 01/10/2018 - Arm Your Business Against Cybe
    • 11/15/2017 - MERCHANT FRAUD ALERT, 11-15-20
    • 09/22/2017 - Have You Heard How OMEGA’s Dat
    • 08/02/2017 - MERCHANT FRAUD ALERT, 08-02-20
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