Credit Card Fraud Prevention

Credit Card Fraud Prevention.

You could be forgiven for thinking that the advent of Chip & Pin has signalled the end for credit card fraud. The reality is that lost in all the figures in the media are warning signs for the business community. Latest figures indicate that there has been an overall reduction of 13% in credit card fraud over the last six months, however, there has been a 29% increase in cardholder not present transactions, more familiarly known as mail order.

This reflects a predicted trend in that Chip & Pin only combats cardholder not present transactions. The fraudster is being driven towards mail order fraud and alarmingly we have seen a return to fraudulent cheque transactions.

CFS can provide training to your staff in combating the threat of credit card fraud. Too much reliance is placed on new technology and human error is often responsible for card fraud losses. If you do not have Chip & Pin technology in your business and you are a party to a fraudulent transaction, do you know that you, as the merchant, will have to stand the cost? It can also take as long as three months before you become aware that the transaction was fraudulent, often too late to investigate.

We advise you on the steps that you can take to protect yourself and your business to reduce the risk loss. As you will be acutely aware, the loss goes straight to the bottom line of your balance sheet.

Call us today with no obligation. Alternatively please visit our website at www.corporatefraudsolutions.co.uk to find out more about us and the range of services that we can offer.