{"id":721,"date":"2013-10-31T06:33:50","date_gmt":"2013-10-31T10:33:50","guid":{"rendered":"http:\/\/www.nationaltransaction.com\/credit-card-merchant\/?p=721"},"modified":"2013-10-31T06:35:36","modified_gmt":"2013-10-31T10:35:36","slug":"what-can-retailers-do-to-prevent-credit-card-fraud","status":"publish","type":"post","link":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/what-can-retailers-do-to-prevent-credit-card-fraud\/","title":{"rendered":"What Can Retailers Do to Prevent Credit Card Fraud?"},"content":{"rendered":"
\"Credit<\/a>

Credit: Flickr<\/a><\/p><\/div>\n

While credit card processors and retailers have made strides to combat credit card fraud, it is still rampant across the U.S. In fact, credit card fraud jumped 17 percent between January, 2011, and September, 2012, according to the most recent data from the FICO Falcon Fraud Manager\u00a0Consortium.<\/p>\n

Debit cards<\/strong> obviously have better safeguard measures in place, since debit card fraud rose less than 1 percent between January, 2011, and September, 2012. Plus, the average fraud loss per compromised account fell by 3 percent.<\/p>\n

Card-not-present (CNP) fraud<\/strong> is the biggest challenge by far, accounting for 47 percent of all credit card fraud. CNP fraud \u2013 which includes payments via the internet, mail and phone \u2013 grew 25 percent over the two-year period. So, where the problems with credit cards lie.<\/p>\n

Unfortunately, CNP fraud may get worse before it gets better, in FICO\u2019s\u00a0Banking Analytics Blog.<\/i> This problem may even intensify as the US moves away from magnetic stripe and toward EMV [chip] card technology. In other countries adopting chip-based authentication technology, we\u2019ve seen counterfeit fraud decline, but as a counterbalance, fraudsters often ramp up efforts around CNP fraud.<\/p>\n

However, there was a glimmer of light in the credit card fraud fiasco. While card fraud attempts rose, the average loss per compromised account dropped 10 percent. Plus, the ratio of fraud to non-fraud spending remained constant. \u201cIn other words, the volume of card fraud increased proportionally to the volume of consumer credit card spending.<\/p>\n

Even though many retailers have implemented successful fraud prevention programs, Visa provides retailers with the warning signs for CNP fraud, including:<\/p>\n

Multiple cards used from a single IP address. Orders made up of \u201cbig ticket\u201d items. Orders that include several of the same item. Shipping to an international address. Transactions with similar account numbers.<\/p>\n","protected":false},"excerpt":{"rendered":"

While credit card processors and retailers have made strides to combat credit card fraud, it is still rampant across the<\/p>\n

Continue Reading<\/a><\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60,629,449,830],"tags":[138,823,484,239,828,412,649,824,820,825,382,15,34,108,826,829,455,822,821,827,438,49,468,818,808,38,819,722,87,405],"class_list":["post-721","post","type-post","status-publish","format-standard","hentry","category-digital-wallet-privacy","category-emv-europay-mastercard-visa","category-mail-order-telephone-order","category-payment-card-industry-pci-security","tag-account","tag-analytics","tag-authentication","tag-banking","tag-big-ticket","tag-card-not-present","tag-chip-card","tag-chip-based","tag-cnp","tag-counterfeit","tag-credit-card","tag-debit-cards","tag-emv","tag-fraud","tag-fraudsters","tag-international","tag-internet","tag-magnetic-stripe","tag-mail","tag-non-fraud","tag-orders","tag-payments","tag-phone","tag-prevent","tag-processors","tag-retailers","tag-safeguard","tag-spending","tag-transactions","tag-visa"],"_links":{"self":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/comments?post=721"}],"version-history":[{"count":3,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/721\/revisions"}],"predecessor-version":[{"id":736,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/721\/revisions\/736"}],"wp:attachment":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/media?parent=721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/categories?post=721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/tags?post=721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}