Did you know there is a whole sub class of criminal known as “carders”? These low lifes hang out in forums and buy and sell credit card numbers by the thousand. You can easily find them by googling “carders forum”.
The fraudsters use these stolen cards to buy products from online merchants becuase its easy to do so with little or no chance of being caught. In 2007 these low lifes ripped
merchants off for $3.7 Billion. How much of that was yours?
Did you also know that the only party at risk in an online credit card transaction is the merchant? Not the bank, not the card companies, not the cardholder, no only the merchant.
This is because the merchant does not have a signature from the cardholder. Without that signature the merchant is screwed and will not only lose the goods or services but will be fined $20 for the priviledge.
The biggest problem online merchants have is they simply do not have a signature from the cardholder and they are unlikely to get it. Without a signature from the cardholder, the merchant is the only party at risk. This is because there is no proof the cardholder authorized the transaction.
One other problem for online merchants is real cardholders who buy goods and services and then later claim they never authorized the transaction. This is a rapidly increasing problem and one I have found some solutions which merchants can use.
What can a merchant do to avoid this problem? Thats a good question and luckily after 13 years of confronting this problem I have produced a step by step solution. You need never be ripped off again. My new book “Merchants Beware and it’s companion video will lead you through the easy steps to detecting fraud before its a problem.
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