It’s that time again; the holiday season is just around the corner. While small business owners are gearing up for the flurry of business, fraudsters and scammers are doing the same. Being a victim of credit card fraud can be a real financial and emotional hardship. While it may be difficult to eradicate fraudulent activity altogether, as a business owner there are steps you can take to help protect yourself and your business against scammers.
Keep an eye out for “fraudster flags”
While not every customer who displays these behaviors is a criminal, knowing what to look for could help you spot a potential financial predator before it’s too late. Here are a few signs of fraudulent activity:
- Purchases large amounts of merchandise without regard to size, type, color, or cost.
- Neglects to ask any questions when making large purchase or rushes you during the sale.
- Makes multiple purchases throughout the day but leaves in between each transaction.
- Declines delivery for large items…even when it’s free.
- Multiple cards used from a single IP (Internet Protocol) address (for online transactions).
- Shipping to a single address, but transactions placed on multiple cards.
- Multiple transactions on one card or a similar card with a single billing address, but multiple shipping addresses. (online transactions)
PCI Compliance is not rocket science.
Compliance with the PCI-DSS means that your systems are secure. Making sure that your business is discreetly handling customers’ sensitive information is crucial in keeping your customers and your business safe.
- Train your staff on proper handling of confidential company information, including financial, personnel and customer information.
- Post our “Stay Smart” infographic in your office as a simple reminder of how to keep your business and customers protected.
- After ensuring your business is PCI compliant, it is crucial to perform regular PCI scans.
- Don’t forget to stay educated on updates within PCI compliance procedures – visit our Education Center for the latest information.
Make sure everyone is on the same page.
Ensure your entire staff knows about basic security threats and fraud prevention. Educating your staff on PCI compliance is your best defense against credit card fraud.
- Hold a company-wide training on PCI Compliance.
- Make sure your staff is aware of what is appropriate and inappropriate information to provide over the telephone so that your business doesn’t become a victim of the “phoner toner”
- When possible, don’t store sensitive data. The more you have stored, the more you have to lose.
Completely eradicating fraudulent activity altogether might be tricky, but using these tips as a business owner can help you protect yourself and your business against scammers. For a more in-depth take on Fraud Protection, our friends at Visa provide the ultimate resource guide to making sure your business is protected. Discover also provides a valuable credit card resource section for your convenience.
Integrity Payment Systems is here to answer any questions you may have and do our best to provide quality and efficient customer service in this area. Please reach out to us at firstname.lastname@example.org with any questions, or visit our website for more details about how we can help you.