HOW TO PREVENT FRAUD IN YOUR SMALL SCALE BUSINESS.
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. It supposed be noted that since the results of a fraud in credit card can be dire like shut down of the mind or charging it interest rates, the card owner should make all necessary measures to avoid it.
Online the industry is here to stay, this translates that many people make payments through online channels, this being the case it may be expected that credit card fraud may continue to raise rather than to go down. People have come up with security measures to ensure that this challenge will be encountered and no fraud will be entertained whatsover. 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.
Fraud also may be minimized through the use of verifying the credit card number, and since all credit cards do have this figure it is good to confirm that this number is there direct from the credit card.
Since through address verification system the seller has the address of his buyer a policy should be adopted to make sure that all the goods that are to be shipped go directly to his residence as per the ones are given in his address.
Since it can be easy to forge money orders and cheques more so if they are made through the online mail, it is therefore essential to make sure that one verifies all checks and money orders keenly to detect any counterfeit. 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. A phone call direct to the customer may be used to confirm his order in case of any noted suspicious activity before shipping off the goods, this will prove and clear any doubt whether the request is legitimate or its just a fraud.