How you can protect your business from credit card fraud:



Accepting and processing credit card payments is a standard with almost any business today. This is especially true for businesses that sell products and services online. Sadly though, cyber criminals are aware of the surge in credit card use online and attempt to profit from this illegally. Credit card fraud is a major threat to your business and can affect your reputation while also incurring a financial loss.

Discussed below are some tips that can help you protect your business from credit card fraud:

  • Make use of the AVS: The AVS or Address Verification System is a tool that banks and credit card companies use to compare a customer’s address to what is stored on file. The card issuer or bank can verify the transaction when a seller makes a request for authorization. The card issuer or bank will then return a response with the level of match (partial, full, no match, and unavailable). If you receive a full match then there is less risk in processing the card payment. There are payment gateways and tools that already make use of this feature.


  • Secure your networks: Make use of encryption to secure information shared across your network. In addition to encrypting data it is essential to have a security policy in place that limits your employees from accessing sensitive customer data. Make sure any software used at your business is updated to the latest version in order to minimise vulnerabilities.


  • Use anti-malware and virus protection software: This cannot be stressed enough! Make sure that all devices within your business especially if it connects to an external network have proper virus protection and anti-malware software installed.


  • Monitor customer behaviour: Keeping track of what your customers are doing online (on your website) is a good way to identify fraud and stop it. Keep an eye out for suspicious behaviour that could be a tell-tale sign of credit card fraud, some of these include:
    • Orders with multiple of the same items, especially if it doesn’t make sense for a customer to purchase many of it.
    • Orders which have expensive ‘big ticket items’ such as TVs, computers or phones
    • Multiple transactions on the same day (from the same person using the same card)
    • Orders shipped to one address but made from different cards and customer profiles
    • Suspicious email addresses


  • Report fraud straightaway: If you do come across suspicious activity or are a victim of fraud be sure to report it immediately to the card issuer and bank. In addition to reporting the crime be sure to take steps to prevent the order from being sent (if it hasn’t already), this way you can prevent a loss to your business.
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