Tis’ the season of giving, but for many fraudster’s, it’s also an opportunity to take advantage of your hectic schedule! Fraud is on the rise during the holiday season. It’s even more important to keep your eyes open for the following fraud indicators. When more than one is true during a card-not-present transaction, fraud might be involved.
- Larger-than-normal orders
- Orders that include several of the same item
- Shipping to an international address (Very High Risk)
- Transactions with similar account numbers
- Transactions placed on multiple cards or multiple transactions on one card over a very short period of time
- Sales processed through the Deaf Relay System
- Cardholder’s asking for Wires or funds through Western Union
- Sales that seem “Too Good to be True”
Take every precaution at the point of sale. It’s important to take extra steps such as:
- AVS (Address Verification) is a Match
- Verify the CVV (3 digit security code) is a Match
- Always ship to the AVS verified cardholder billing address
- Look out for "red flags" for fraud signs that can be identified and stopped at the point of sale.
- Check your batches daily! Especially if you are on automatic settlement and have an online store.
This gives you the opportunity to identify if fraud is taking place, void the transaction, and then contact risk/tech support for help.
If you aren't comfortable with any sale or the sale seems suspicious in any way you can deny the sale or ask for the cardholder to pay using alternate form of payment (i.e. wire, money order, cash).
Sage Payment Solutions, Inc.