Easy Tips for Fraud Prevention

April 4, 2014 Moneris

Combat fraud with Chip & PIN technology plus other easy tips

Credit-Card-FraudDo you know how to spot potential credit card fraud? You can’t afford not to – fraud is an expensive and time-consuming problem for all businesses. That’s why Moneris is sharing Every Card. Every Time, a simple guide with effective fraud-prevention tips that, combined with the protection of Chip & PIN technology, can help you and your front-line staff safeguard your business against fraudulent transactions – before they turn into chargebacks. Here’s how: 

The 3 E’s of Card-Not-Present Fraud Prevention

Remember to watch out for these three signs when processing transactions through the mail, over the phone or online:

  • Expensive: Take notice of purchases that include high-priced items or large quantities of the same item.
  • Express: Be wary of customers who request express, next-day delivery.
  • Extra cards: Watch for customers who make purchases using multiple credit cards.

The 3 C’s of Card-Present Fraud Prevention

Look for these three things when you’re presented with a credit card:

  • Customer behaviour: Keep an eye on customers who appear nervous or are making an unusual purchase from your business (such as several high-priced electronic items at a convenience store).
  • Card Entry & Handling: If customers have Chip & PIN on their card, be aware of the number of times they are attempting to enter their PIN or re-inserting their card to try again. If they do not have Chip & PIN on their card, be sure to validate the date, hologram, security code, and signature panel on their credit cards.
  • Card Acceptance: Always follow proper card acceptance procedures and use the secure Chip & PIN method whenever possible (read on for what’s new in Chip & PIN technology). For manual transactions, always take an imprint of the card.

Chip & PIN: One of the most effective ways to prevent fraud


Credit and debit cards with embedded computer chips are convenient and powerful tools to help you and your customers stop fraud during a card present transaction.


Why it’s best for you: Chip cards and chip terminals work together to ensure transactions are secure by requiring the cardholder to enter a Personal Identification Number (PIN) in order to make a payment. Chip cards are also harder to copy, making counterfeit fraud more difficult. About 99% of Interac® cards are already chip enabled and, thanks to that extra security, losses fell by nearly three-quarters between 2009 and 2012.


As a mandate from the card brands, all terminals have to be EMV® (Europay, MasterCard® and Visa®) chip enabled by 2015. The U.S. only recently began adopting chip-enabled cards; so American customers may not have this technology yet2.

Why it’s best for your customers: Using Chip & PIN can shorten transaction time by up to two seconds faster than where a signature is provided, and it gives your customers a heightened sense of security, since their card never leaves their sight.

If you do not have a chip-enabled terminal and would like to get one, please call our Merchant Service Centre at 1-866-319-7450.

If you believe a transaction in your store or on your website is fraudulent, follow the Code 10 process, a universal code that’s set to alert our authorization department without alarming the customer. If you suspect fraud, call Moneris at 1-866-802-2637 and follow the prompts for a Code 10 here.

Do you have questions about fraud prevention? Email insights@moneris.com.

Watch these videos:
Learn How To Protect Your POS Equipment
Properly Accept Cards on Your Point of Sale Device

1"Interac® debit card fraud skimming losses plummet to lowest level on record", http://www.interac.ca/index.php/en/press-releases/2013-fpm-pr, 2013. 
2"All American Credit Cards Will Disappear In 2015 And Be Replaced With This New Tech" http://www.businessinsider.com/chip-and-pin-credit-card-changeover-in-2015-2014-2, 2014. 

® MONERIS, MONERIS & Design, and MONERIS SOLUTIONS & Design are registered trade-marks of Moneris Solutions Corporation (Moneris). INTERAC is a registered trade-mark of Interac Inc. EMV is a registered trade-mark of EMVCO, LLC. VISA is a registered trade-mark of Visa International. MASTERCARD is a registered trade-mark of MasterCard International Incorporated. All other marks or registered trade-marks are the property of their respective owners. The information in this newsletter is provided solely for informational purposes and is not intended to be legal, financial or other professional advice.

About the Author


Moneris processes more than 3 billion credit and debit card transactions a year, for over 350,000 merchant locations across North America. We have over 1,300 dedicated employees who understand transaction processing and know how to make it work for you.

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