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Credit Card Fraud

Identifying and preventing Credit card fraud

Identifying the early warning signs of a potentially fraudulent transaction can save your business time and money.

Fraudulent credit cards can be broadly classified into two groups. The first category is counterfeit cards, where the card is illegally produced but looks and works like a legitimate card. The second is lost or stolen cards, where the card is legitimate, but the user is not the authorized cardholder. See customer and card alerts.

Be sure to examine credit cards carefully to detect signs of tampering or counterfeiting, and keep a close eye on suspicious customer behaviour in your place of business.

If you suspect fraud

If you suspect a fraudulent transaction, make a Code 10 call, which alerts an authorization centre of a suspected fraudulent transaction without alarming the individual who is presenting the card.

Call the TD Merchant Services Authorization Centre immediately
and say you have a Code 10 authorization request. You will be asked a series of questions to determine the validity of the transaction.

  • Stay calm and courteous and hold on to the card until you have obtained authorization.
  • Don’t hang up if your call is transferred.
  • Respond to the authorizer’s questions with appropriate yes or no answers.
  • Follow instructions to either complete the transaction (with the authorization number provided) or retain the card.
  • Do not try to apprehend or detain the cardholder.

While it is important to report suspected fraudulent transactions, if your personal safety is at risk do not perform a Code 10 call. Instead, complete the transaction and afterwards immediately contact TD Merchant Services.