Central point for credit card fraud

Discussion in 'Payment Processing' started by xcraft, Aug 11, 2009.

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  1. #1
    Hi all,

    I'm getting on my shop a lot of credit card fraud, people paying stolen cards.
    I have no idea where i have to go or what i can do:
    1- warn original card owner his card was stolen
    2- Let this card be blocked so it cannot be used anymore
    3- report the culprit

    Any idea? isn't a central point form master card and Visa for this kind of stuff?

    Thanks a lot,

    mike
     
    xcraft, Aug 11, 2009 IP
  2. jestep

    jestep Prominent Member

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    #2
    What do you sell, and how do you accept cards, if it's OK to say publicly?
     
    jestep, Aug 11, 2009 IP
  3. xcraft

    xcraft Active Member

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    #3
    hi,

    yeah sport suplements.
    accept card thru a european proccesor, thru own gateway.

    thanks
    mike
     
    xcraft, Aug 11, 2009 IP
  4. jestep

    jestep Prominent Member

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    #4
    Are your customer mostly European as well, or US, or other?
     
    jestep, Aug 11, 2009 IP
  5. xcraft

    xcraft Active Member

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    #5
    European.
    Biggest fraud is coming from UK and germany
     
    xcraft, Aug 11, 2009 IP
  6. jestep

    jestep Prominent Member

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    #6
    I've got a lot of experience in dealing with US risk and fraud prevention, but not so much for international. I know some very knowledgeable Execs for European processors, and I will ask around and see if there is any best-practices for dealing with this.

    I would suggest requiring CVV at a very least, as it should be supported by all issuers, and will at least guarantee that the person making the order has seen the card. AVS is not supported by most non-US banks, so it wouldn't help you much.

    Also, you may want to look into a 3rd party fraud prevention system like: http://www.maxmind.com/. Again, I do not know how effective these systems are for international transactions, but it may be worth an investigation.
     
    jestep, Aug 11, 2009 IP
  7. xcraft

    xcraft Active Member

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    #7
    hi jestep,

    I'm already using maxmind.
    All european credit card payments require de cvc, that does not mean fruard guy has seen the card, if he just sets up a fake shop, he got all the info.

    i can't believe that the credit card companies do not have central point where merchant could tel them that a card is stolen and used for fraud, this would save them a lot of money
     
    xcraft, Aug 11, 2009 IP
  8. sultanofseo

    sultanofseo Notable Member

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    #8
    lot of times people dont even know that their card is stolen. or the card might not even stolen, just the numbers so the real owner of the card wont even know that his.her card got compromized till they see the next months bill. crooks these days can make plastic cards with magnetic security features (with someone else's card number of course) which works on all electronic payment procesors. they have connection with cashiers or have their own cashers at various different retail places who collect the nunbers for them. pretty scary
     
    sultanofseo, Aug 11, 2009 IP