Credit Card Fraud and
Identity Theft
 Run
an online store? Expect fraud. Most operators of
online stores and distribution services quickly find out
that credit card fraud is going through the roof. IT
GlobalSecure personally saw attempted fraud rates risk
from 5% in 2000 to 15% in 2003. Other online stores,
particularly in the technology sector, have seen similar
statistics.*
Don't
expect your merchant processor to protect you.
Card
processors, even when presented with signed sales order
or Fedex delivery receipts, will deny you - the merchant
- payment, issue a chargeback when the buyer asserts
identity theft or a stolen credit card. Running
card-not-present transactions is the most risky online
endeavor. With IT GlobalSecure's services, you can
greatly reduce your risks.
We provide the following services and support::
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AVS Check.
Integration of address verification AVS into
your back-end order processing systems |
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Order
Processing Procedures. Staff training and
defining of procedures to be used for order
processing |
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IP
Verification. Instructions on using IP
addresses and WHOIS data for buyer
authentication |
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Greater use of
Public Records. How to use public records,
such as reverse phone lookups, to help affirm
identity |
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Banking
Tutorials. How to work with your merchant
processor and third-party banks to affirm
billing data and card status, including
verification of CVV codes |
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Different Ship
To addresses. Procedures to use for
situations in which the SHIP TO address is
different. This is an increasingly high-risk
scenario for merchants. |
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Behavioral
Patterns of Fraudulent Buyers. There are
common "tell-tail" behaviors that signal a
pending theft. Do you know them? |
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The Fictitious
Address. If you offer open source or
freeware content, then you have a whole new set
of problems with the anonymous buyer. How can
you get more information from the requester? We
show you how. |
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Free E-mail
domains. Should you accept orders from free
e-mail domains? We show you ways to tighten your
security and reduce your risks. |
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Credit Card
Disputes. We've won merchant chargebacks by
having the right documentation. We show you how
to build responses for Amex, Wells Fargo,
PaymentTech, and other popular payment gateways. |
*For more on this topic, visit the Y Store Forums,
a gathering place for online store owners. For fraud
topics, you will need to register as a store owner and
be verified by the site's moderator. The registration
process is well worth it!
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