MANAGEMENT: Avoiding credit card fraud

by | Jul 18, 2011 | Body Shop News

Regulators and law enforcement agencies believe the still-sputtering economy is to blame for a rise in credit card fraud. Jackie Hart, a risk manager with Total System Services, Inc. (TSYS), a large credit card processing company, offers these tips to businesses to avoid being a victim of credit card fraud:
• Be wary of cards that are not signed or lack the standard security features (hologram, 3- or 4-digit security code).
• Use the address verification service that card processors offer to ensure your customer’s address matches the account.
• Swipe the card to make it more difficult for a cardholder to deny having made a charge; if swiping fails, get an imprint of the card and a signature.
• Only give it one chance. If a card is swiped and declined, just ask for a different form of payment rather than trying it again.
• To help spot a fake card, check to make sure the last four digits of the card number are also on the back of the card.
• The first six digits of the card number (the “BIN”) also can be entered at one of several websites ( or to find the name and country of the issuing bank; if those don’t match what’s on the card, it’s another sign it’s not a legitimate card.