FRAUD AND SECURITY TIPS FOR MERCHANTS
Fraud is on the rise and you’re the first line of defence to safeguard your business. Here are some tips to help keep your business safe.
How can I keep my business safe from fraud?
1. Follow the rules
Always stick to the terms of your merchant agreement and the rules set out by each of the card schemes.
2. Only process genuine cardholders
Make sure a payment is made by the rightful cardholder. An authorisation will not guarantee payment if it is not made by the genuine cardholder. We recommend taking steps to check the identity of the cardholder where possible.
3. Minimise chargebacks
Be aware of how and why chargebacks may occur to help minimise risk.
4. Refund right
Only process refunds to the card that the initial sale was made on to protect yourself from refund scams.
5. Protect targeted goods
Be careful handing over or shipping goods such as electrical goods, jewellery and computers. Fraudsters often make such purchases with stolen cards - as these items can often be resold quickly and easily.
6. Keep data secure
7. Be scam aware
What are the types of fraud?
What is a terminal takeover?
A terminal takeover happens when a customer tampers with and takes control of your EFTPOS machine and uses it to carry out fraudulent activities.
How can I prevent terminal takeover?
- Always keep your terminal in sight.
- Educate your frontline staff about this type of fraud
- Make sure your customers only use the terminal keys to enter a pin, not a card number.
- And ensure you have the Mail Order and Telephone Order (MOTO) functionality disabled when it is not needed, or you may be liable for chargebacks. If you need help to disable MOTO functionality, please contact our Merchant Helpdesk on 1800 029 749.