January 6, 2015

Don’t Lose $1 Million – Activate Fraud Sentry® Today!

Don’t Lose $1 Million – Activate Fraud Sentry® Today!

Something troubling happened last month. News broke of a hotel manager being arrested for stealing almost a million dollars from her employer over the course of seven years. Even more troubling was that it happened to one of Shift4’s merchant customers – a merchant just like each of you. Saddest of all, this entire fraud scheme could have been prevented by Fraud Sentry®, a technology that is included with every installation of DOLLARS ON THE NET®.

The Source of “Trusted-Employee” Fraud
Shift4 was made aware of this case by federal agents who were gathering evidence and preparing to make an arrest. Through the course of that investigation, and the one we performed internally, it was determined that this nearly million-dollar fraud loss came in small increments over the course of several years. The general manager (GM) in question was issuing refund credits for customers who had already paid, only she wasn’t issuing them back to the customers’ cards – she was issuing the credits back to cards she controlled.

A Skipped Step, a Missed Opportunity
How did this business not catch the problem sooner? The answer is painfully simple. When they signed up for Shift4 and went through the account setup process, they did not add any email addresses for Fraud Sentry reports during their initial administrator training. That single skipped step in the process resulted in nearly one million dollars in fraud losses for this business.

“Trusted-employee” fraud is not a new threat. In fact, Shift4 has been actively combatting this type of scam for more than a decade with our Fraud Sentry technology, which was designed in the late 1990s in coordination with another Shift4 merchant customer who suspected internal fraud was happening in a few of their properties and came to us for help in tracking down exactly where and how it was occurring. As a result, we created Fraud Sentry and made it a part of DOLLARS ON THE NET for all of our merchant customers to use.

Activate Fraud Sentry to Avoid Making the Same Mistake
Please don’t make the same mistake. If you are an auditor, an account administrator, owner, or manager and do not currently receive Fraud Sentry reports, contact [email protected] and request that your email address be added to the Fraud Sentry alerts list.

Also, we highly recommend having at least two people on this distribution list. If the GM is the only person receiving fraud alerts and happens to be the one committing fraud, then our alerts cannot help you.

Shift4 is committed to supporting merchants with the very best fraud-prevention and security tools available in the industry. We give them to you at no additional cost because security is core to what we do and is vital to your business. Please put them to work for you and avoid becoming the next victim of a breach or act of fraud. If you have additional questions about any of these technologies, Shift4’s Customer Support team is available to help you 24/7/365 at 702.597.2480 (option 2) or [email protected].