Five Ways to Protect Customer Credit Card Information

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It’s critical to understand that even if all cautious, conservative steps are taken, and the best payment processing security is installed, a breach can still occur. If it does, you must have detailed credit card sales records to refer back to as a means of retracing your steps. This will help in determining when and where the breach took place and therefore mitigate the potential for additional losses. Furthermore, a proper assessment of the initial attack may ultimately provide a trail back to the source of the breach.

According to a March 13 report from the Commerce Department, retail sales increased 1.1 percent in February, to $421.4 billion, marking the biggest surge in the retail space since last September. Elevated sales numbers mean additional credit card transactions and, as a result, an increased risk for fraud.

A recent report from Javelin Strategy & Research found that credit card fraud has increased an alarming 87 percent since 2010 and accounted for a cumulative total loss of approximately $6 billion. Despite mounting evidence of this growing epidemic, loss as a result of credit card fraud has remained the proverbial elephant in the room for many businesses.

Organizations need to increase their awareness of this growing threat and the rather simple steps they can take to prepare themselves. Here are five tips, identified by Rob Bertke, senior vice president of research & development, Sage Payment Solutions, for businesses of all sizes to keep in mind as they navigate through the economic climate in 2013 and beyond.

According to a March 13 report from the Commerce Department, retail sales increased 1.1 percent in February, to $421.4 billion, marking the biggest surge in the retail space since last September. Elevated sales numbers mean additional credit card transactions and, as a result, an increased risk for fraud.

A recent report from Javelin Strategy & Research found that credit card fraud has increased an alarming 87 percent since 2010 and accounted for a cumulative total loss of approximately $6 billion. Despite mounting evidence of this growing epidemic, loss as a result of credit card fraud has remained the proverbial elephant in the room for many businesses.

Organizations need to increase their awareness of this growing threat and the rather simple steps they can take to prepare themselves. Here are five tips, identified by Rob Bertke, senior vice president of research & development, Sage Payment Solutions, for businesses of all sizes to keep in mind as they navigate through the economic climate in 2013 and beyond.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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