Falling victim to fraud can happen to anyone at any time especially now when social circumstances demand so much of our attention. TCB Pay wants to help you identify potential scams and empower you to have control of your business at all times. Staying informed and vigilant about strange activity will help protect you and your business. Below are a few tips that can help you avoid becoming a victim of fraud. 

 

Protect your passwords

Your passwords are your first line of defense against fraud. Change your passwords every few months and do not use the same password for every website. Many people use the same password for their bank account and for their social media accounts. It’s wise not to.  

 

Stay informed about common scams

Follow warning signs if it doesn’t feel right, it probably isn’t. Alert your family and employees about current scams so they also become vigilant to potential threats. If you receive an unsolicited call asking you to switch companies or give personal information because of the current COVID-19 situation, hang up and call the related company’s customer service number yourself.    

 

Prevent chargebacks

Be aware that even if we are all going through extraordinary circumstances, the credit card association rules still apply. When a customer buys something at your store and pays using a credit card, make sure they still sign the merchant receipt copy. If your client files a chargeback dispute for goods and services you have provided and you do not have a signed receipt, this will hurt your chargeback representment and most likely rule in favor of the client.

 

Frequently check your bank and credit card statements 

Be diligent by checking your credit card transactions and bank accounts frequently. Look out for suspicious activity by setting up alerts that warn you when your credit card is being used. If you find suspicious transactions, contact your bank immediately.  

 

Always use secured Wi-Fi

It is extremely important to secure your home/business Wi-Fi network. Make sure that all your Wi-Fi connections require a password in order to access them. Do not let strangers use your home network as they could easily hack into your personal information. If you want to share your store’s Wi-Fi connection with your clients provide them with a guest account.

 

 

TCB Pay is a Level 1, PCI Compliant. This is the highest level of compliance required by the payment card industry to ensure that all companies that process, store or transmit credit card data maintain a secure environment. TCB Pay is here for you. Do not hesitate to contact us, if you need advice on how to optimize your data security protocol for your business at support@tcbpay.com or call us at 866-444-8585. 

 

Discover the stay at home activities that our TCB Pay team recommends here.