HOW TO PREVENT FRAUD IN YOUR SMALL SCALE BUSINESS.
Fraud in any industry negatively affects its performance, more so if its connected with your bank account through credit cards. When building sales and orders through the internet and a phone call, it is essential for the business merchant to take all the necessary measures to ensure that he prevents fraud from his business. It supposed be noted that since the results of a fraud in credit card can be dire like shut down of the mind or charging it interest rates, the card owner should make all necessary measures to avoid it.
Fraud through the credit cards may continue to raise, since many people now days are using online channels to access many businesses either through buying and selling of goods. People have come up with security measures to ensure that this challenge will be encountered and no fraud will be entertained whatsover. The very best method is to ascertain corresponds to the address or the information in the bank where the credit card was issued this is called as the address verification system.
Adopting a policy that delivering goods will only be shipped to address verification system approved billing system, that is the delivery will be made to the residence of the ascertained card owner.
Since it can be easy to forge money orders and cheques more so if they are made through the online mail, it is therefore essential to make sure that one verifies all checks and money orders keenly to detect any counterfeit. Making sure that your bank confirms the money order or a check of a customer is cashable before making any shipping of goods is another reasonable measure to ensure that you won’t lose any money and in case you do will just be for the insufficient fund which is only a reasonable fee.
A measure of protection is also enhanced by this process of PayPal since it offers information of shipping address of the customer plus a verification of his existence, this avoids ghost customers. A phone call direct to the customer may be used to confirm his order in case of any noted suspicious activity before shipping off the goods, this will prove and clear any doubt whether the request is legitimate or its just a fraud.