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A Guide to Preventing Credit Card Fraud

Credit card fraud continues to be a significant issue for businesses and consumers, and it hurts us all. Moneris has taken a proactive approach to helping merchants reduce fraud by creating the Moneris "Every Card. Every Time" fraud prevention program to help educate front-line staff about fraud.

PDF fileDownload the 12 Potential Signs of Card Not Present (CNP) Fraud Guide

Visa and MasterCard Risk and Fraud Compliance Program Thresholds

PDF fileDownload the Visa and MasterCard Fraud and Chargeback Program Thresholds

What can my staff and I do to prevent fraud?

The basics of fraud prevention can be broken down into two sections.

  • Face-to-face transactions
    Key areas of focus:
    • Suspicious customer behaviour
      Fraud prevention begins with keeping your eyes and ears open. Signs of suspicious customer behaviour can include:
      • Customer has randomly collected merchandise without the usual care
      • Customer may appear nervous or in a hurry
      • Customer may take the card from their pocket instead of their wallet and the signatures may not match
      • Customer makes large, random, expensive purchases
    • Card security features
      All cards are designed with special security features to deter counterfeiting and alteration. When you are presented with a card, look for the following elements:
      • On the front:
        • Verify the match of print and embossing
        • Embossing
        • Hologram
        • Valid date
        • Compare account numbers
      • On the back:
        • Signature panel
        • Signature
    • Proper processing procedures
      • Check the card's security features
      • Always insert a chip card into the terminal. Only swipe transactions when the chip is not present.
      • For manual transactions, always get an imprint of the card
      • Compare the signature with the back of the card
      • Keep your card reader in proper working order
      • Use Fraud Detection Equipment (SecuriSource)
    • Code 10 authorizations
      Code 10 is a universal code that allows you to alert an authorization department of a suspected fraudulent transaction without alarming the customer. Call for a Code 10 when you think a transaction needs a closer look, or when you believe a fraudulent transaction is occurring. If you are at all suspicious, call Moneris at 1-866-802-2637 and follow the prompts for a Code 10.
  • Mail order/telephone order and Internet fraud
    There is anonymity buying through the mail, over the telephone or online, but here are the steps you can take to help stop credit card fraud. Watch for:
    • Larger than normal purchases
    • Orders of "big ticket" items for resale
    • Orders shipped Rush or Overnight for quick sale
    • Transactions on similar account numbers
    • Orders shipped to a single address but made from multiple cards

    Additional resources