As a merchant, you are liable for fraudulent credit card transactions, so it's important to remain vigilant about spotting potential fraud.
Knowing what to look out for and how to react is important to keeping your business safe. Here are some of the more common tactics to watch for:
- Unusual language and grammar. Odd phrasing, overly formal language, or uncommon errors which might suggest the use of translation tools.
- Urgent requests, especially for high-value services. Last-minute bookings with an insistence on immediate confirmation.
- Conflicting details. Requesting travel booked in someone else's name, especially when the client and traveler are in different countries.
- Suspicious payment methods. Using several credit cards (especially in rapid succession), using cards that are in someone else's name, or asking to pay outside of your usual methods.
- Reluctance to verify identity. Refusing to provide a scan of their passport or other official documents.
- Overpayment or redirected refunds. Requesting an alternate refund method, including by claiming the original card was lost or cancelled.
You can help prevent fraud by following these tips:
- Trust your instinct. If something feels suspicious, investigate further and don't be afraid to say no.
- Know your clients. Get face time or phone time with new clients to learn more about them.
- Use your resources. Each credit card company has guides (below) for handling suspicious activity.
Each of the major credit card providers has their own guide for handling suspicious activity, which you can access below:
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