Merchant Newsletter - November 18, 2006

Holidays are the Fraudster's Opportunity

Fraudsters take advantage of high sales volume


An inexpensive black light can also help validate cash (large bills), credit cards, and drivers licenses!  We have a Micro-UV “black” light which is perfect for spotting those fake credit cards, counterfeit currency, or any other item that has Ultra Violet (UV) properties. Simply push the button on the side of the light and a bright blue UV light is emitted. Small enough for our mobile merchants to take anywhere!


The 'Ig Nobel' Prizes are a parody of the Nobel Prizes and are given each year in early October — around the time the recipients of the genuine Nobel Prizes are announced — for ten achievements that "first make people laugh, and then make them think." Organized by the scientific humor journal- "Annals of Improbable Research" (AIR), they are presented by a group that includes genuine Nobel Laureates at a ceremony at Harvard University. Some of the past "winners have included:


2006- Medicine - Francis M. Fesmire of the University of Tennessee College of Medicine, for his medical case report "Termination of Intractable Hiccups with Digital Rectal Massage (yes, that is what you think..)

2004- Chemistry - Presented to The Coca-Cola Company of Great Britain for using filtered water from the river for their buck-a-bottle Dasani

2004- Technology - Presented jointly to John Keogh of Australia, for patenting the wheel in the year 2001, and to the Australian Patent Office for granting him Innovation Patent #2001100012



With the holiday season already started, fraudsters are coming out of the woodwork.  They use the long lines at retailers as camouflage, knowing the overworked, rushed attendant will probably not ask for ID.  They flock to the online stores, knowing that they cannot give the same careful attention during the peak season that they usually do.  

The successful retail fraudster is well dressed and confident.  Shopping at peak hours, often right before the store closes.  They usually know just what they want, an expensive, easy to sell consumer item (i-pods and GPS are targets this year).

Retailers have it easier than online vendors, all they need are the 5 MAGIC WORDS.  "May I see your ID?"  Ask them for their ID BEFORE THEY SIGN, and retain it until they do.  Compare the face on the ID to the customer, and the signature to the one on the ID.  A common method of getting free merchandise is to purchase something and when signing, use your "other" hand, and sign a different name.  Go home, call the card issuing bank and claim that your card was lost or stolen.

Retail merchants can also use an inexpensive imprinter to prevent chargebacks due to fraud.  We devoted an entire newsletter issue to the method of using imprints to successfully win chargebacks due to fraud! 

Some of you will think all of this is just too much to do.  The next time you go to a store, and they INSIST on seeing your ID, ask them why!  They will probably tell you it's because they recently got ripped off by a stolen credit card.  If you REALLY need to lose an expensive item before you get a grip on reality, just package one up and sent it to me....  At least when you DO get nailed, it will not be your first loss


One of our merchants who sells at the swap meets, takes a picture of anyone using a personal check.  Another merchant takes a photo of the customer's driver's license for large dollar amount purchases.   You may want to check and see if there are any ordinances or regulations in your state, county, or city against doing this, but according to the reports, it REALLY cuts down on fraud and chargebacks.  If a customer knows you have a picture of them holding the merchandise, it's pretty hard for them to call Visa, and claim he did not make the purchase.  Likewise, a bad check passer will walk away knowing you will have his picture to give to the police!  Most states have laws against passing bad checks, and here a picture speaks more than a thousand words!

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