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In Tandem

Stop credit card fraud by pairing solid policies with new technology.

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This story appears in the May 2004 issue of Entrepreneur. Subscribe »

When retailer Mark Berkowitz, 49, asked a phone customer for the name and number on his , he knew he was being scammed. "The guy said his name was Patricia," recalls the owner of Derby Appliances Inc. in Edison, , which sells appliances and electronics. "If I hadn't questioned it, I would have been liable for the cost."

U.S. retailers get ripped off to the tune of about $1.5 billion per year due to credit card , says Dennis Behrman, a research analyst with Financial Insights, a Framingham, Massachusetts, research firm. Protecting yourself without alienating customers, he says, requires a combination of new and good business practices, including:

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