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Tis the Season for Fraud – How Is Your Business Helping? (Part 2)

December 19, 2008 Posted by Michael Brooks in Risk and Fraud Management

The sales associates at retail outlets following proper security guidelines is a good start to protecting against fraud this holiday season. But what if you are an online business, or the magnetic strip on a card does not work? In Part 1 of this topic, we talked about proper procedure for accepting cards in a card present environment. Transactions that don’t involve swiping a card are considered “hand-keyed” transactions.

With hand-keyed transactions you run a greater risk of fraud because the magnetic strip information is not available. If you are in a retail environment you can do the following:

Continue reading "Tis the Season for Fraud – How Is Your Business Helping? (Part 2)"

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Validating Credit Cards

July 9, 2008 Posted by Michael Brooks in Electronic Payment Processing, Payment Industry

With fraud on the rise, online merchants face increasing risks. In card-not-present transactions, there are two basic levels of credit card validation used to validate that credit cards presented for payment actually belong to the person initiating the transaction. Continue reading "Validating Credit Cards"

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