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Credit card fraud By Michelle Sholund - a CraftLister.com Craft Expert about page personal website   based on 16 ratings Viewed 573 times Printed 2 times
Credit takers and users listen up! Credit card fraud is a serious problem and is getting worse. With a report released in June 2005 several million credit card numbers and pertinant information was released from unsecure companies into the publics hands. I was one of the millions who's card was released. So, what do you do to protect your business as well as your own credit cards against theft? Well, here are some tips.
I got the dreaded call from the credit company stating that there were some odd charges on our credit card and we weren't the only ones who had this happen. In the situation we were in there was nothing I could have done to prevent that, however the businesses that took our card number from the fraudulent person never did their homework... All purchases were done online and when we traced one company they said, "Well, it's your credit card and it is to your address, it is a valid transaction." The person bought $250 of bootleg DVD's and Cd's not to mention an X-Box for $600, motorcycle equipement, etc. all in the span of 2-3 days. So, after talking to our credit card company I learned some tips on how to prevent this from happening to you.
1) First have back up information of your credit cards. Write down the phone numbers on the back of the card if it is lost or stolen and keep them in a safe place. Also, report it immediately!
2) As a business, check signaures on the back of the cards with the person's handwriting on the receipt. IF there is no signature, ask for a drivers license and I would tell them why you are doing this so they don't think you are doing something underhanded. I would say "It seems the signature box hasn't been signed do you have another form of i.d. with your signature? I am doing this for your own protection." If a customer gives you a hard time, that should signal a red flag! Don't be scared to turn a person down who doesn't have proper identification, it will save them in the long run and make sure they do the right thing in the future. As for your business you will save a bunch of money as far as extra fees and charges that go along with fraudulant transactions.
3) If you accept credit cards on your website, make sure you use the highest bit encription to secure credit card information. The higher the bit the harder it is for a hacker to crack the code. (My husband is a computer science guy and told me that piece of advice.)
4) For all people, make sure you know where your credit cards are at all times. Dont' get distracted by conversations or by kids, make sure you put it away when after it is being used. Also, make sure you destroy or hide transaction receipts so the receipts with valuable information don't slip into the wrong hand. This also goes for atm receipts and transactions at craft shows - keep an eye on people and where you put the receipts. You think with some of the credit card info on the receipts being hidden/blanked out, there is still other info. that is valuable.
5) Lastly, with each transaction you get either online or through a craft show, double check the card and information through the credit company to make sure it is a valid card especially with those that look kinda fishy. In working in retail I had a "wise guy" who's credit card "owner's name" was "Joe Shmo" and some others that I can't even say in this article. I don't think you have to check every transaction, but randomly, yes. It may be burdensome but in the long run save you money and heartache.
Now with camera phones, unsecure companies, and we as consumers who sometimes aren't as careful with our credit cards as we ought to be, need to be on the look out in protecting ourselves from theft and fraud. I hope these tips will help you and if you have more questions, contact your credit card company, they will be happy to help.
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