ScamBusters Examines Online Credit Card Fraud

Posted on June 18, 1998

Although the risk to consumers for credit card fraud on the Internet is low, small businesses are taking it on the chin. There has been a tremendous, unpublicized increase in the number of businesses that have been scammed by people who place fraudulent orders using stolen or bogus credit card information. Unlike consumers, businesses are completely at risk. For example, according to the Los Angeles Times, Ideal Travel Concepts of Memphis, Tennessee, was scammed out of $50,000 worth of airline tickets.

To help small business owners avoid these kinds of losses, Internet ScamBusters, a publication on Internet fraud, has published "Eight Sure-Fire Strategies Any Business Owner Can Use to Reduce Credit Card Fraud" at http://www.scambusters.org/Scambusters23.html.

Internet ScamBusters is a free monthly electronic newsletter that was created as a public service to help business owners avoid scams, fraud, misinformation, and hype. "Our company lost $500 last month because of credit card fraud - and there's absolutely no recourse whatsoever," says Dr. Audri Lanford, co-editor of Internet ScamBusters. "The current issue is dedicated to helping other business owners avoid this growing - but largely unpublicized - problem of credit card fraud for merchants."