5 Ways To Prevent Identity Theft From Hurting Your Company

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5 Ways To Prevent Identity Theft From Hurting Your Company

Identity thieves are everywhere, and that means that you could end up losing thousands of dollars if your company comes under attack. According to statistics, at least 90% of all businesses will have at least one attempt at identity theft or credit card fraud at least once per year. Thankfully, there are ways to prevent identity theft – and most of them are fairly easy to do. Here are some of the best ways to prevent identity theft from harming your customers and your company.

  1. Shred any documents that you’re throwing out involving money exchanges. Many identity thieves get crucial information from raiding peoples’ garbage cans. When they see receipts, particularly those with tax numbers or bank account numbers, they take them and use the information on them to trick others into letting them access your bank accounts. By shredding those documents, you make sure that nothing ends up being found through those means.
  2. Regularly check your POS terminals to ensure that they haven’t been tampered with. The most common way ID thieves try to directly attack merchants while in their store is to tamper with their terminals. This is why we at Red Payments advise our clients to regularly check their terminals for strange changes. If you notice new equipment on them, added wires, or software acting strangely, stop using them and call your merchant services provider immediately.
  3. Don’t open or answer strange emails. Emails and phishing attacks are one of the most common ways hackers try to steal your company’s information. Keep an eye out for emails that appear official, but don’t actually come from the companies that they appear to be from. These emails are often used by hackers as a way to steal information via your login credentials.
  4. If a customer has an unusually large order, make sure to verify the customer’s identity. One of the most common ways ID thieves use the information they steal is to buy things with a victim’s information. By checking to verify that the person’s ID matches the name on the credit card, you help curb identity thieves and fraudsters from using your store to make false charges.
  5. Use an up-to-date terminal for your transactions. Modern terminals are outfitted with chip readers and updated software that is specifically designed to curb identity theft and credit card fraud. By having the right terminal, you’re ensuring that your business will be that much safer from thieves.

If you are worried about credit card theft, you’re not alone. CPS helps people prevent credit card fraud and identity theft by offering the best POS terminals out there. If you’re interested in getting better security, give us a call. We are here to help.

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