Page 21 - Mar-Apr-2020 - Reporter

credit card fraud prevention

Contributed by Baseline Processing

t a time when social distancing is • a customer who’s trying to hurry them • Be sure to use your Processor’s Address
Aprofoundly impacting many of our through the transaction Verification Service (AVS).
businesses, the last thing any of us wants is • odd demands about shipping timelines or • Take license plates down on pick-up
for losses to be compounded by the actions shipping address orders.
of thieves. Unfortunately, it’s during these
emotional and disrupted days that many Second, identifying fraudsters without Remember that the name of the
criminals are at their most active. We are irritating legitimate customers by using game is setting up an easily understood,
all more vulnerable to social engineering the following strategies to strike that all appropriately vigorous fraud prevention
attacks during times of stress. In this short important balance: system and then communicating it
message, we’re going to address one of effectively to your entire staff. It’s also a
the most common and damaging types • Call your processor before the transaction good idea to explain to your employees
of fraud: the passing of stolen credit card is processed and ask for a “Code 10”. The exactly why these steps are being taken. A
information. operator will then go through a security team member who understands why they’re
Let’s start with how to foster a fraud- process to ensure the card is valid. performing these actions is more likely to
busting environment. We want a space • Have the customer send a picture of their feel a sense of responsibility for protecting
where employees feel comfortable trusting Driver’s License for confirmation on call-in the company.
their instincts and digging a little deeper and online orders. Finally, as LBMAO members, you have
with customers who raise red flags. In my • Collect CVV codes on all manually entered full access to the Baseline Processing team.
experience, those businesses that are least transactions. While practicing social distancing, we’ll still
vulnerable have two-part systems which • Have the customer sign and send back be happy to help you design and implement
provide clear guidance to team members. the invoice. Include a description of the a system that protects you without
First, employees are trained to look for goods or services on the transaction hindering your ability to do business.
suspicious actions such as: receipt for all large, card-not-present For further information, please go to: www.
orders. baselineprocessing.com

www.lbmao.on.ca LBMAO Reporter - March-April 2020 21