Do you know how to spot a potential fraudster in your business?
Credit card fraud is prevalent in retail, exposing you to potential losses that could affect your business. Being vigilant about unusual spending helps you identify early warning signals that something may not be right with a transaction. Be wary of cardholders who:
- Seem nervous, anxious or in a hurry at closing time
- Ask to split a transaction over two or more cards
- Take the card back quickly, so you don’t have a chance to check the security features
- Request manual input of a transaction without having a card present
- Look at the card before signing the receipt.
The more you know about the potential risks, the better your ability to protect your business against chargebacks and fraud.