E-merchants Turn Fraud-Busters

from the gotta-do-what-you-gotta-do dept

As online credit card scams get worse, the ones left holding the bag are often the online merchants (who are now accusing the big credit card companies of profiting off of fraud). Realizing that the credit card companies aren’t doing as much as they can to prevent fraud, the merchants have formed into groups (often patterned after “neighborhood watch” groups) to share information and techniques for fighting credit card fraud. Of course, as with any scam it’s a back-and-forth battle. Every time they come up with a way to stop a certain scam, the credit card scammers come up with a new plan. What’s unfortunate about this, is that it’s often the smallest merchants who can’t afford the same level of fraud protection that are hit the hardest. It makes it increasingly difficult to actually sell products online if you’re a small shop.

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