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HOW TO DETECT CREDIT CARD FRAUD

Three Things To Remember When Detecting Credit Card Fraud


When you’re running your own business, you understand that it’s important for your daily operations to run smoothly. Credit card fraud, however, is incredibly difficult to deal with once you’ve landed with it. Hence, merchant account holders should do everything they can to prevent fraudulent activity, as well as take measures to detect fraudulent activity in the first place. 
 
Online merchants are constantly at risk of credit card fraud, which is why it’s important to be able to detect credit card fraud. Knowing how to detect credit card fraud might seem difficult, but below are three simple steps that can help you on your way to detecting credit card fraud with ease. Binbase.com is often used as an example of the best way to prevent credit card fraud in the first place, but what about detection?
 
One common credit card fraud alert system is the address verification system. Whilst this has been used for a number of years by many merchants, many companies are now looking further afield to help suspect credit card fraud. 
 
Perhaps the first thing that a business could consider is looking at daily reports from the payment gateway. If you’re considering how to track credit card fraud, then you should recognise that this is absolutely essential for the safety of your firm and finances. You should check your reports from the payment gateway every day, before all of your orders are processed. 
 
This works by scrutinising all of your current transactions and gaining an insight into how fraudsters work. It’s notable that fraudsters will test their fraudulent activities online, and finding numerous attempts made in just one order could be the result of fraudsters performing dirty card testing fraud – which is one of the common forms of credit card fraud online. 
 
With so many forms of fraud out there, it’s essential you know how to track credit card fraud – so consider the above advice.
 
Second thing -  credit card fraud check can be performed by looking into the shopping cart lockout feature. If your website currently has this feature, you will understand that suspicious customers will be immediately locked out. If you don’t have this technology, then it’s something to consider. The system works by locking users out that have a credit card declined numerous times in just one session. This can be the result of yet another credit card scam. 
 
Taking these scams into consideration, it soon becomes obvious that credit card fraud detection is important. 
 
The third thing to consider when you’re looking to make use of a credit card fraud detection system is to invest in add-on fraud services. Add-on fraud services are one of many online services that can help you pick out fraudulent users, and potentially save your business huge sums of money. 
 
Consider this: you may think that your payment gateway provider is attempting to sell you features you don’t need, but when you consider what these features actually do, you’ll find that they offer the best ways to detect fraudulent activity. So don’t completely rule out the add-on features! The last thing you want is your business to suffer from fraudulent activity, so consider things more, and take your time when purchasing fraud detection systems.