According to a recent industry survey completed by KPMG, seventy-five percent of the business executives and government officials surveyed reported at least one instance of fraud in the 12 months prior. A full 60 percent of these instances originated from employees, costing organizations on average $464,000.

Shift4 helps combat both external and internal fraud. To protect against customer fraud, Shift4 offers Address Verification Services (AVS) and full support of CVV2, CVC2 and CID codes (the three or four digit numbers located on the physical credit card). Historically, AVS and CVV2 were used only for ‘card not present’ transactions, such as those on e-commerce sites or through mail order. Visa’s VIP program, however, has extended the advantages of these tools to merchants of all types. Running these verifications can help guard against the use of stolen cards and can be particularly beneficial for establishments with larger ticket averages and for any company running a tab or open authorization (hotels, bars, auto rental, etc.).

To combat internal fraud, DOLLARS ON THE NET includes the powerful ‘trusted’ employee fraud detection and prevention tool, Fraud Sentry. There are many types of internal credit card fraud, the most common of which involves the practice of corrupt employees issuing false or over-stated credits to their own card(s) or to those of their cohorts.

Prior to settlement, Fraud Sentry scans through a company’s transaction archive, searching for a matching debit charge or series of debit charges that correspond to each credit transaction. If a valid match is not found or if the credit exceeds the charge(s), the suspect credit transaction is flagged and reported to the auditor. If the auditor elects to submit the transaction anyway, the auditor must enter their password for verification. Once the password is verified, the transaction is submitted and an email notification, including the time, date, profit center and clerk ID for the suspect transaction, is sent. Optionally, the system can be configured to not notify the auditor and instead simply send the email notification or to not allow settlement of suspicious transactions altogether. In any case, merchants are armed with the detailed information they need to investigate or prevent possible fraud.

But Fraud Sentry goes even beyond this, offering you a variety of ways to analyze trends that may signal there are fraudulent activities. Within the Fraud Sentry settings screen on DOLLARS ON THE NET, a controller is able to request that Fraud Sentry track and report a variety of different trends by setting their own threshold tolerances. For example, a controller may want to know if a card was used over a certain number of times in a day, week or month, whether the total purchases for a card exceeded a certain amount in any given time frame, or even whether the total number or price of credits for a single card exceed the threshold. This type of trend analysis capabilities allow merchants to uncover even the most advanced fraud.
Fraud Sentry may be implemented at a single location or as an enterprise-wide solution.