You are here
Home > Financial

Companies: 10 Mistakes that Most People Make

ELIMINATING FRAUD FROM YOUR ENTERPRISE

The effect of a scam in your credit card on your bank account from your small business can be very influential . It is, therefore, the responsibility of the business person to prevent fraud most importantly if he is making sales through the internet. In order to prevent any raise of card rates or even close down of your card from accessing your bank account due to fraud, one should make sure that his credit card is not prone to any fraud activity whatsoever.

Fraud through the credit cards may continue to raise, since many people now days are using online channels to access many businesses either through buying and selling of goods. Due to the strict rules are given by credit card issuers and banks, people have come up with measures to ensure that one can detect when there is any chance of fraud in his account. The very best method is to ascertain corresponds to the address or the information in the bank where the credit card was issued this is called as the address verification system.

Since all credit card does have a verification number it is always good to confirm that and ensure that its read from the actual card, this measure will provide some protection of the map from fraud.

Adopting a policy that delivering goods will only be shipped to address verification system approved billing system, that is the delivery will be made to the residence of the ascertained card owner.

In-depth verification should be done mostly to cheques and money orders mainly if they are made through the online channel this is because they may be prone to counterfeit and forgery but keen checking will detect them right away. Making sure that your bank confirms the money order or a check of a customer is cashable before making any shipping of goods is another reasonable measure to ensure that you won’t lose any money and in case you do will just be for the insufficient fund which is only a reasonable fee.

Verification of customers shipping address and his presence through the process of PayPal does help many sellers to ascertain the identity of the said client. It is always right even after putting on all these measures to investigate any suspicious activity that may be noted before shipping an order, this may include calling the customer through the phone to verify the order if its legitimate.

Top