The world’s first credit card was used in 1950 and in Turkey in 1968. Credit cards, which offer the opportunity to shop by borrowing money for the next month without carrying cash, introduced new forms of theft. A form of theft called fraud refers to credit card fraud. In case of fraud, which can also occur in everyday life, Today, we mainly encounter it during e-commerce, i.e. online shopping.

If you ask what fraud is, it’s good that something like this hasn’t happened to you yet. However, millions of people in today’s world are victims of fraud. The main responsibility for preventing this theft lies with the workplace, but there are some things we as users can do and simple but effective measures we can take. Bride What does fraud mean, how do you prevent it Let’s take a closer look at the FAQs and see the important details you need to know about the topic.

Let’s start with the basics, what is fraud?

Fraud, an English word of French origin, means fraud. The word fraud used in the past for identity fraud After the 1950s, credit card fraud refers to fraud practiced today in the form of using stolen credit cards in e-commerce. Many users suspect that “fraud” comes from their bank using this word. Wait for manual confirmation. You don’t have to make a new request.’ They met the message.

Fine, but what exactly is fraud?

Let’s explain it like this; The thieves somehow get their hands on your credit card information. He then opens an account on an online shopping site and They shop with your credit card information. Most of the time, this shopping happens above the credit card’s upper limit. So even if the user logs into the bank with the suspicion of fraud, the thieves get what they can get. Most of the time, the seller or the e-commerce platform is not aware of the subject, but there are cases where organized crime organizations do it in a planned way.

Chargeback is also part of this process:

If you’ve heard the word “fraud,” you’ve definitely heard the word “chargeback.” When the user sees a suspicious transaction with a credit card, he notifies the bank of this situation and an investigation process begins. This process is called chargeback. During this process, the bank, together with the e-commerce platform and the seller, examines the transaction and checks whether there is actually a fraud situation.

What does the fraud notification sent to inform the user mean?

Unfortunately, many users are often unaware that their credit card information has been stolen until a fraud occurs. Purchases made with stolen credit card information When the bank raises suspicion, the user is called, texted or notified from the bank’s mobile application. This informational message is called Fraud Alert. The user receiving the fraudulent notification should contact the bank as soon as possible and report the situation and cancel the card. Your bank will inform you about this after a legal procedure.

How to prevent fraud? Here’s what merchants and ecommerce platforms need to do:

• Use the 3D Secure system.
• Check the CVV / CVC2 security code.
• View the first purchases.
• Check the basket average.
• Detect incorrectly entered card details.
• Identify the purchases made by different members using the same card.
• Check the IP address.
• Check delivery and billing address.
• Make sure identity is checked upon delivery.

Use the 3D Secure system:

3D Secure is one of the most effective methods that removes the suspicion of fraud. User in 3D Secure system After all card details have been entered, an SMS will be sent to the mobile phone number registered on the card or a notification will be sent to the bank’s mobile application. This message contains a unique code and is one-off. This ensures that the shopper is the cardholder.

Check the CVV / CVC2 security code:

The CVV / CVC2 security code is a 3-digit number found on the back of credit and debit cards. This number is completely unique to that card. Many thieves cannot easily retrieve the security code unless they steal the credit card directly. For this reason it is extremely important to request this code in the payment system.

View the first purchases:

People who steal users’ credit card information are generally on a new e-commerce platform they prefer to cheat by opening a new account. At this point, sellers and platforms must be extremely careful, and when an account opened a few hours ago makes an expensive purchase, there must be a suspicion of fraud.

Check out the basket average:

Sometimes, fraudulent thieves take not only the person’s credit card information, but also their account and account on an e-commerce platform. they take over all the information stored in that account. Thieves trying to get their hands on as big a deal as possible before they’re noticed are making a pretty big deal. At this point, the platform should suspect the situation and check the average basket amount of that account.

Detect incorrectly entered card details:

It’s one, it’s two okay, but if a user repeatedly enters the wrong credit card information while shopping online, that is. with trial and error you know Trying to match other information that he was unable to obtain should raise suspicion of fraud.

Identify the purchases made by different members with the same card:

The tactics don’t stop with the thief. Sometimes fraud cases can be made with the same credit card. also when shopping from different user accounts can happen. Ecommerce platform fraud analysts should be aware of these situations.

Check the IP address:

When we talk about an organized crime gang, there can be more than one fraud situation at the same time. With multiple suspicious transactions the platform should pay attention to the similarity of the traded IP addresses. This check can be done together with the bank.

Check the delivery and billing addresses:

If necessary, the delivery and billing address can be entered differently. However already in questionable transaction and if the delivery and billing addresses are different, the suspicion of fraud should increase.

Make sure you are authenticated upon delivery:

At the moment, the responsibility lies with the couriers of the freight companies. We know the workload is tough, but while delivering the cargo Receive SMS code or verify identity Very important. It should not be forgotten that the courier is also held responsible in some cases of fraud.

So what shall we do?

• Do not unnecessarily share your credit and debit card information with platforms.
• Don’t tell anyone your security code.
• If you lose your credit or debit card, cancel it immediately by contacting the bank.
• Report suspicious situations immediately to your bank.
• Use virtual card.
• Limit the internet shopping limit of your cards.
• Do not shop on platforms that do not have a 3D Secure system.
• Don’t click on every link you see.
• Don’t be fooled by every discount and advantageous opportunity.

fraudulent shopping with stolen credit cards on e-commerce platforms What is fraud and how to prevent it We’ve covered the details you need to know about the topic by answering frequently asked questions. Time is bad, watch yourself.