A Bundaberg business is warning residents to keep an eye out for dodgy credit card transactions after experiencing an increase in online credit card fraud within their store.
Tackle World's Lenore Hanks said credit card fraud was becoming more and more common through the increase of technology and shopping online.
“We have experienced credit card fraud through our online store through the illegal use of a credit card to obtain goods,” Lenore said.
“Usually, the owner of the credit card is not aware that their card has been compromised until after the transaction/s has taken place and appears on their credit card statement.”
Lenore said it wasn't just credit card owners who were affected, with businesses also suffering.
“If checks are not put in place upon receipt of the online order, the business can be out-of-pocket through the loss of goods, no payment and a bank chargeback fee,” she said.
“The chargeback occurs when the actual owner of the credit card disputes the purchase to their bank (suspicious transaction on their credit card statement which they did not authorise).
“Their bank subsequently carries out an investigation (with the business), if the bank determines that the customer’s card has been compromised, the money which was paid to the business is reversed (charge back) and the bank issues the business with a processing fee.”
How can businesses take action against credit card fraud?
Lenore said it was important for businesses to take caution and implement procedures to reduce the risk of online credit card fraud.
“Processes such as ringing the customer to verify the order, name and address and produce ID are beneficial,” she said.
Businesses can also implement fraud prevention tools on their eCommence Merchant Facility to reduce the activity.
“All credit card fraud should be reported to your bank through the appropriate channels.”
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