To help prevent counterfeit fraud, Visa is introducing Visa cards with chip and PIN. The chip is a micro computer chip that securely stores encrypted payment related information and is virtually impossible to copy. Chip cards help prevent against counterfeit and lost or stolen fraud as a PIN is required at chip-enabled terminals.
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One of the easiest ways to avoid fraud is to spot counterfeit cards before you process the transaction. Visa cards have a number of built-in security features designed to help merchants distinguish between a real card and a counterfeit one.

While processing a transaction, look at the following features –

• Embossing: Is it clear and straight?
• Four printed numbers: Do they match the first four numbers of the embossing?
• Signature panel: Has it been tampered with?

Visa card security features. Check them out.

What can you do to stop counterfeit fraud?

• Always check the card for key security features such as: embossing, hologram, and the repetition of the first four numbers printed on the card.
• Compare the signature. The signature on the card should match the signature on the receipt.
• If you're suspicious about a card, call your authorization centre and ask for a "Code 10" authorization. An operator will tell you what to do. However, never follow the operators instructions at the risk of your own personal safety.
• Ensure all staff are educated on proper acceptance procedures.
• Know your employees. Check references and conduct background checks on all of your employees.

Skimming is an illegal act that helps criminals obtain credit card account information to produce counterfeit cards.

Typically someone in a workplace will swipe a cardholder's credit card through a skimming device when the card is presented for payment and capture the magnetic stripe data from the card. The information is put onto a counterfeit card, or any card with a magnetic stripe, and used the card to make fraudulent purchases.

Be on the lookout for skimming, if in your workplace…

• You see anyone using a device that is not part of your day-to-day activities.
• Anyone offers you money to record account information
• You notice unusual activity at the end or beginning of the work day.

If you suspect skimming, call your Acquirer/ Payment Processor or Company Security and let them know IMMEDIATELY

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