What is fraud, how can we prevent it?
How can we prevent it?
Another type of fraud is credit card fraud, here is how you can prevent it. There's no doubt that credit cards and debit cards have changed the way we do business. Instead of carrying cash, these cards provide convenience and safety, as well as tracking of transactions on monthly statements.
You don't have to lose your credit or debit card to become a victim of credit card fraud. Thieves can obtain your credit card account numbers from old receipts or by scanning your card in illegal machines.
There are many things you can do to avoid becoming a victim of credit card fraud. They include:
-Keep an updated list of which employees have company credit, debit or ATM cards, along with their account numbers, expiration dates and limits.
-Keep card fraud department phone numbers handy.
-Cancel and destroy any unused cards.
-Make sure employees sign company cards immediately upon receipt.
-Keep track of card receipts. Ask that they be submitted for any expense reimbursements.