Don't let fraudulent credit card orders knock you out.
You thought a hearty "Congratulations!" would be in order. Your online business was still in its first week and had already received a whopping $5,000 order. There was just one catch-it had been placed with a stolen credit card number. The tip-off came when you saw that the order, ostensibly placed by a credit card holder with a U.S. billing address, was to be shipped to faraway Indonesia. A quick phone call to the real card holder, who told you she didn't have the foggiest idea about the order, confirmed your suspicion.
Sometimes, sniffing out fraudulent transactions can be a matter of common sense. While online fraud tactics are be-coming increasingly sophisticated, preventing credit card fraud doesn't have to require expensive monitoring tools. Much of fraud prevention lies in knowing how fraud works.
Continue reading this article -- and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!