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 cards to buy goods and services from online merchants because it's very easy and they never get caught. In 2007 they ripped merchants off for $3.6 Billion. Jusat how much of that was yours?
Most people do not realise the following, but it's dead set true. In a online credit card transaction there are 4 parties. There are the banks, the card company, the card holder and the merchant. The merchant is the ONLY one out of those parties that has any risk in a fraudulent transaction. Not only will the merchant lose the profit and costs for the sale, the card company will also fine the merchant $20. That just adds insult to injury.
One big problem online merchants have is they cannot get the cardholders signature on the order. Without a signature by the cardholder, the merchant is the only party at risk. This is because there is no proof the cardholder authorized the transaction.
Another problem for online merchants is real cardholders who buy goods and services and then later claim they never authorised the transaction. This is a growing problem and one I have found some solutions which you can apply.
After observing fraudster for 13 years and personally being part of hundreds of thousands of online transactions I have learnt the fruadsters telltale signs. I've written a new
book and made a video which reveals exactly how to detect a fraud before it becomes a problem - 15478
The fraudsters use these cards to buy goods and services from online merchants because it's very easy and they never get caught. In 2007 they ripped merchants off for $3.6 Billion. Jusat how much of that was yours?
Most people do not realise the following, but it's dead set true. In a online credit card transaction there are 4 parties. There are the banks, the card company, the card holder and the merchant. The merchant is the ONLY one out of those parties that has any risk in a fraudulent transaction. Not only will the merchant lose the profit and costs for the sale, the card company will also fine the merchant $20. That just adds insult to injury.
One big problem online merchants have is they cannot get the cardholders signature on the order. Without a signature by the cardholder, the merchant is the only party at risk. This is because there is no proof the cardholder authorized the transaction.
Another problem for online merchants is real cardholders who buy goods and services and then later claim they never authorised the transaction. This is a growing problem and one I have found some solutions which you can apply.
After observing fraudster for 13 years and personally being part of hundreds of thousands of online transactions I have learnt the fruadsters telltale signs. I've written a new
book and made a video which reveals exactly how to detect a fraud before it becomes a problem - 15478
About the Author:
If you want to stop fraud and chargebacks check out Don Reid's new Book called Merchants Beware at his website www.MerchantsBeware.com
