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Security measures needed to prevent credit card fraud

August 17, 2012

Credit card fraud remains a major issue for many merchant services providers around the country. If security measures such as PCI compliance are not met, then the ramifications could be severe.

Credit card fraud remains a major issue for many merchant services providers around the country. If security measures such as PCI compliance are not met, then the ramifications could be severe.

In one recent case, Charlotte Lewis, who was recently released from prison on credit card fraud charges, was charged with another scheme in which she allegedly stole thousands of dollars from Lord and Taylor. The Burlington County Times reports that Lewis, of New York City, worked with two others and purchased approximately $13,000 worth of items.

According to police, the three women were able to use a flaw in the retailer’s security system to fool merchants into thinking more money was on prepaid cards than their actually was. Lewis, who had just returned from a six month prison stay in New Jersey, was out on parole as part of an early release program.

If a security system is not working correctly then it could have major ramifications for retailers. Building a trusting relationship with customers is one of the most vital parts of running any successful business.

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