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Whether you do business face-to-face, over the phone, through the mail, or online, security is an important priority. When you accept Credit or Debit for payment, you have access to programs and tools that can help prevent fraud and ensure that you and your customers are better protected.
A fraudulent credit card transaction could involve an invalid account number, unauthorized use of a valid account number or a lost or stolen card. Card skimming is the most common form of debit card fraud. Fraudulent transactions normally occur within hours of loss or theft and in most cases the card has not yet been reported as missing or stolen.
Fortunately, credit and debit cards issued in Canada are designed with special security features to help deter counterfeiting and fraud, and your actions can further protect your business and your customers. |
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| What can my staff and I do to prevent fraud? |
| The basics of fraud prevention can be broken down into two sections. |
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For Face-to-Face transactions, |
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For Mail / Telephone Order and Internet Fraud, |
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| For Face-to-Face transactions, The following are 4 areas to keep in mind: |
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Suspicious customer behaviour |
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Remember to keep your eyes and ears open; here are some signs to watch for: |
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Customer has randomly collected merchandise without the usual care |
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Customer may appear nervous or in a hurry |
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The customer may take the card from their pocket instead of their wallet and the signatures may not match |
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Customer makes large, random, expensive purchases |
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Card security features |
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All cards are designed with special security features to deter counterfeiting and alteration. When you are presented with a card, look for the following elements: |
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| On the front |
On the back |
| Verify the match of print
and embossing |
Signature panel |
| Embossing |
Signature |
| Hologram |
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| Valid Date |
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| Compare account numbers |
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Proper processing procedures |
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Check the card's security features |
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Always swipe through a terminal |
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For manual transactions, always get an imprint of the card |
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Compare the signature with the back of the card |
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Keep your card reader in proper working order |
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| B. For Mail / Telephone Order and Internet Fraud |
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Identifying fraud in these mannerism may seem difficult, but there are identifiers that you can watch for: |
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Larger than normal purchases, large quantities of the same item |
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Orders of "big ticket" items shipped Rush or Overnight |
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Transactions on similar account numbers |
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Orders shipped to a single address but made from multiple cards |
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A shipping address that is different from the cardholder address, especially where the countries differ |
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| You can find additional information at the Visa and Interac websites. |
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