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POSitive Processing Blog
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 so that you don’t become a 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!
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