Avoid Credit Card Fraud
How Can You Protect Your Customers As They Make a Purchase?
You can protect your business against both internal and external fraud at the point of sale by taking advantage of our advanced solutions.
State-of-the-art POS Equipment
Our POS equipment offerings deliver the most advanced POS fraud-prevention solutions available today, including:
- Account Verification System
- Duplicate Card Checking
- Last four-digit entry
- Password Protection of Key Functions.
With these tools, your operators can confirm the cardholder’s identity on the spot by keying in information unique to the cardholder – such as the card verification code, last four digits of the card, or other elements used with AVS.
GMSI strongly advises against removing POS terminal fraud protection features, as this may render your business unable to detect fraudulent cards and protect against financial losses.
Quick access to transaction data allows you to identify trends that might indicate fraudulent activity or improper operating procedures. GMSI merchants can also call on us to analyze transactions, identify trends and offer corrective measures.
Payment Brand Data Security
Compliance with payment brand and industry security programs is not only required, but is also beneficial, helping you maintain a positive business reputation while protecting your customers against fraud.
POS Equipment Protection
Criminals seeking to steal payment card data are increasingly targeting POS terminals. Such illegal activities include accessing POS terminals and inserting a “bug” that reads cardholder data and associated PINs. Other tactics include installing miniature cameras or video recording devices aimed at PIN-entry devices.
GMSI recommends these steps to help reduce the risk of having your terminals compromised:
- Protect your POS equipment – track your POS terminals and their serial numbers; routinely inspect terminals and PIN-entry devices to confirm serial numbers and ensure there are no signs of tampering
- Safeguard your POS equipment and the surrounding area – use secure stands, tethers or security cables to prevent equipment “swaps;” check the retail environment for unauthorized hidden recording devices; install security cameras
- Train your staff on POS equipment tampering prevention – help employees recognize the noticeable signs of equipment tampering; validate all POS equipment service and repair technicians
- If you work with a third-party to manage your POS equipment – it’s important that you alert your vendor of vulnerabilities related to remote access to the POS. You should require your vendor to take steps to secure and maintain your POS systems in accordance with the Payment Card Industry Data Security Standard (PCI DSS). In addition, the following security practices should be implemented to mitigate your risks of fraud from remote access to your POS:
- Disable remote access from the Internet, or turn it on only when necessary.
- Only use remote management applications that offer strong security controls.
- Use the most current version of a remote access product or service.
- Always change the system (or manufacturer) default passwords.
- Restrict remote access credentials only to third parties who need access.
- Enable data encryption and logging features.
- Implement a hardware-based firewall with advance security features
Card-Not-Present Fraud Avoidance
Card-not-present fraud may occur when a merchant is selling goods or services online, by phone or mail. In today’s marketplace making a payment must be fast and easy but it also has to be safe. Customers need to know their account information will be protected, while you as the merchant need tools to confirm the validity of transactions.
GMSI works with nation’s leading e-commerce processors and understands the nuances of potential card-not-present fraud. As our customer, you can leverage our extensive fraud management expertise as well as our effective fraud solutions.
Keep your transactions flowing smoothly and protect against card-not-present fraud with the help of the following products and services:
- Address Verification Service (AVS) — Reduces the risk of accepting fraudulent transactions by verifying the cardholder’s billing address on file with the card issuer.
- Card Security Verification — Compares the card security value, non-embossed 3- or 4-digit numeric code on the credit card, with the issuer’s value on file. Credit card verification programs are offered by the major payment brands and known as CVV2 (Visa), CVC2 (MasterCard), CID (American Express) and CID (Discover Card).
- Card Brand Data Security — Support for your business in complying with Visa and MasterCard data security programs (CISP and SDP).