Did you know there is a whole sub class of criminal known as "carders"? These low lifes hang out in forums and buy and sell credit card numbers by the thousand. You can easily find them by googling "carders forum".
Carders and fraudsters use stolen credit card information primarily to buy goods and services online from unsuspecting merchants. In 2007 the total they stole from websites was $3.6 BILLION. In 2008 the total will be more than 4 billion.
Did you also know that the only party at risk in an online credit card transaction is the merchant? Not the bank, not the card companies, not the cardholder, no only the merchant.
This is because the merchant does not have a signature from the cardholder. Without that signature the merchant is screwed and will not only lose the goods or services but will be fined $20 for the priviledge.
The biggest problem online merchants have is they simply do not have a signature from the cardholder and they are unlikely to get it. Without a signature from the cardholder, the merchant is the only party at risk. This is because there is no proof the cardholder authorized the transaction.
Another problem for online merchants is real cardholders who buy goods and services and then later claim they never authorised the transaction. This is a growing problem and one I have found some solutions which you can apply.
After observing fraudster for 13 years and personally being part of hundreds of thousands of online transactions I have learnt the fruadsters telltale signs. I've written a new
book and made a video which reveals exactly how to detect a fraud before it becomes a problem - 16003
Carders and fraudsters use stolen credit card information primarily to buy goods and services online from unsuspecting merchants. In 2007 the total they stole from websites was $3.6 BILLION. In 2008 the total will be more than 4 billion.
Did you also know that the only party at risk in an online credit card transaction is the merchant? Not the bank, not the card companies, not the cardholder, no only the merchant.
This is because the merchant does not have a signature from the cardholder. Without that signature the merchant is screwed and will not only lose the goods or services but will be fined $20 for the priviledge.
The biggest problem online merchants have is they simply do not have a signature from the cardholder and they are unlikely to get it. Without a signature from the cardholder, the merchant is the only party at risk. This is because there is no proof the cardholder authorized the transaction.
Another problem for online merchants is real cardholders who buy goods and services and then later claim they never authorised the transaction. This is a growing problem and one I have found some solutions which you can apply.
After observing fraudster for 13 years and personally being part of hundreds of thousands of online transactions I have learnt the fruadsters telltale signs. I've written a new
book and made a video which reveals exactly how to detect a fraud before it becomes a problem - 16003
About the Author:
If you want to stop fraud and chargebacks check out Don Reid's new Book called Merchants Beware at his website www.MerchantsBeware.com
