Credit card fraud on the rise: implement safety checks to protect your business.(LOSS PREVENTION)

From: Do-It-Yourself Retailing | Date: June 1, 2005 | Copyright information

The credit card industry is booming, and the technological advances that make their use convenient for consumers have also town the door wide open for their abuse among thieves. And while none of the credit card associations will disclose exact loss figures due to fraud, experts estimate that credit card fraud costs retailers billions of dollars each year.

Zachary Nelson, vice president of HACO Payment Systems, a member service provider for Nova Information Systems, says he's seen more fraud in the last year than previous years. "Every retailer has a potential for credit card ...

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