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My current processor will not validate the cvv or address.
It appears there are other companies that strictly check for fraud. Such as, precharge, merchant alarm, fraud smack, geodetector...
Does anyone have any experience with these?
I always try to encourage wire transfer, but on small orders I would like to be able to accept international credit cards, with some security in mind.
Any help is appreciated!
minor red flag: all lowercase letters for name, address
minor red flag: free e-mail address that doesn't match customer's name (e.g., John Smith using firstname.lastname@example.org)
minor red flag: free e-mail address that doesn't sound natural (e.g., email@example.com)
big red flag: IP address from Africa, Russia or other former Communist block countries, or other suspicious countries
big red flag: African nationality with U.S. billing address
big red flag: actually, ANY African nationality for that matter (although haven't had many problems so far from Egypt & South Africa)
Other people can probably add some to the list.
Also, you should really read the prior discussions regarding wire transfers- they are not as safe as you might think.
[edited by: LifeinAsia at 6:21 pm (utc) on Jan. 13, 2009]
However, once I have the money, its mine and I am not wiring it back once I shipped items.
If you receive stolen money, it is NOT yours to keep. Most likely, the money's real owner (and/or the owner's bank and/or the local police) will be contacting your bank and the money will be taken out of your account with or without your consent.
They can go through many international legal loopholes to try and get their money back. If they succeed than they deserve to get it back.
Remember that wire fraud comes under the domain of the FBI (and probably Interpol for international wire fraud). The local police probably won't do much about a $200 fraud one of your customers commits. But it's a completely different story with the FBI/Interpol (especially since most likely you weren't the only one scammed, so the amount of damages could be thousands of dollars or more).
Anyway, you asked for help in protecting against fraud. I can't force you to accept the help offered.
I agree with you on the wire fraud from a US bank or European bank that the FBI would be involved. The only time I will accept wires would be from foreign banks. If I ever take a wire domestically, it is from a repeat customer who make large purchases.
Thanks again for the info and I agree that "reality checking" is really the one secure step.
BUT, there has probably been about 20 attempted fraud that I have caught this year. First time customer, small dollar amount, rushed shipping.
Common sense says that if the destination is in a questionable neighborhood do your homework or be willing to take the loss. Sooner or later you will make a mistake. But when it pans out as your business deal did, it's icing on the cake and you have a new avenue into a market that you didn't have before. The problems arise when business owners go enter one of these deals without realizing the risk and potential losses. You did and it turned out in your favor. Kudos to you!