As online fraudsters become even more sophisticated, businesses can’t let their guard down. Even the most advanced credit card fraud protection that Lovingly provides can’t guarantee that the person ordering online isn’t using a yet unreported stolen credit card.
Here are 7 pro tips to spot potential fraud:
1. If the same customer email address is associated with multiple orders with different customer names and credit card numbers, it could be a sign of fraud.
2. If the “from” name on the card message is different from the name on the billing address, it could be a sign of fraud.
3. If a caller is unable to provide the card security code, it could be a sign of fraud.
4. If a caller isn’t able to provide the credit card’s issuing bank or financial institution, it could be a sign of fraud.
5. If an email address is clearly fake (machine-generated like OMGemail@example.com), it could be a sign of fraud.
6. If you receive multiple orders with similar card numbers (maybe the last four digits are just switched), it could be a sign of fraud.
7. If an order is declined, it could be a sign of fraud.
Just one red flag could be enough to warrant digging deeper, but more than one definitely does. Remember, if you suspect fraudulent activity, trust your gut. Reminder: With Lovingly Pay, there’s no credit card fee for rejecting orders.