Screening Possible Credit Card Frauds

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Credit Card Applications » Research » Guides » Cardholder Benefits » Screening Possible Credit Card Frauds

Screening Possible Credit Card Frauds


Updated: December 25, 2012

The content is accurate at the time of publication and is subject to change.

It is a sad fact that a lot of people are taking advantage of the anonymity of the internet. For this reason, it has become the avenue of some crimes like identity thief and hacking. While there are no strong laws yet and programs in preventing such fraudulent acts, the government and most private companies are coming up with their screening strategies to track or determine whether a fraud is about to happen.

Businesses can also be the victim of internet crimes. There is nothing wrong being so meticulous during order transactions. It is better than letting lose of these criminals. Get all the information needed to confirm the authenticity of the identity of the person making an order. You might sound suspicious and could piss a customer off but it is a protocol to follow. Explain to the customer why you needed the information; besides it would benefit both parties.

Some customers may place an order through free account emails. To ensure that you are dealing with a legitimate customer, ask for an IP address. IP address is a sort of identification for the network provided by your ISP. Say when the billing order address provided is in one of the states in the US but the IP that had been tracked down comes from a different country then this is no doubt a fraud. There are some tools which can help businesses trace IP`s like the Geobytes locator. But be also warned that technology can mask IP addresses so better be careful.

Conformation of the shipping and billing address is very important. When the person placing the order has provided a different shipping address and even requested overnight shipping then you have a possible fraud. When this happens, ask for a contact number where you can reach them in case some problems may occur regarding their order. In most cases you will be given a different phone number. Before placing the order, call the numbers provided or check it out with the phone directory to confirm the authenticity.

Billions of dollars are lost due to these credit card frauds with consumers paying for other people`s debts and thieves enjoying the advantage. As a cardholder, be responsible in keeping your card so as your important documents. Thieves will be lurking over these important papers and information and are just waiting for the right time to commit their act of crime.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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