Online Credit Card Fraud

Unfortunately Credit Card fraud has been around along time, over the years measures have been made to reduce the amount of fraudulent purchases with credit cards. It is easy to ask someone to see their ID when they are making a purchase face to face, but with the age of the Internet that security measure is gone.

When someone makes a purchase online there is no way to ask to see ID for verification of the identity of the individual. that leaves the cv number as the only verification that the person is who they claim they are. Unfortunately when a thief gets your credit card information they also get the CV number of the back, by getting this number online merchants have little to know way of telling if the purchase is legitimate or fraudulent, in most cases the merchant doesn't find out until the card company requests a payback, the real kicker there is by that time the merchant has already sent off the product and is now out the sale AND the cost of the product and the card holder is out a few days of hassle while they wait for their new card. Now don't get me wrong as a credit card holder I am glad that my card company will not make me pay for things criminals purchased with my card but as a merchant it is frustrating that they won't cover the purchases that were made leaving me holding the proverbial bag so to speak.

Wholesale Mega Store has had it's share of fraudulent purchases and has paid dearly for them. as a result we have had to stop shipping world wide and have concentrated on North America and Canada. Unfortunately as a result of our new policies shipping sometimes takes an additional 7 to 10 days, this only occurs when something sets of a flag with in our system (and there are a few). But with these new protocols in place not many get through and everyone is a little more protected against the criminals.

There are a number of ways to reduce these events and to explain what can and should be done. I have come across one explanation by Steven Patient and he explains it better than I ever could. you need to read what he has to say.