As the owner of your business, you're responsible for protecting your customers. With identity theft and fraud continuing to rise at alarming rates, credit card companies and regulatory agencies are saddling e-commerce merchants with the bill (including shipping fees and the costs of the goods). You can prevent your customers from being victims of identify theft and fraud — and stay in business yourself — by being vigilant about the credit card payments you accept and keeping your customers' information as private as possible.
Most of the time, fraud comes in the form of charge backs. Customers using credit cards and other online forms of payments (that access credit cards and bank accounts) can request that charges be removed. The Fair Credit Billing Act (FCBA) allows consumers to dispute purchases.
A customer can request that a charge be removed for two reasons:
Unfortunately, charge backs happen quite frequently, and proving a customer wrong ...