Credit Card Fraud - Cash Advances

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Question:

As AVP of Operations I have been asked to email our Branches a reminder that this is the season for cash advances. The President would like for me to give the Branch staff some pointers to detect potential credit card fraud with cash advances.

Answer:

This article from Entrepreneur magazine has some excellent suggestions, although some are more applicable to retail establishments. "Avoiding Credit Card Fraud"

It offers five detailed tips:
-Always ask for identification.
-Learn to recognize a credit card's built-in security features.
-Let CVC2 and CVV2 help you make informed decisions.
-Utilize the Address Verification Service (AVS).
-Take an active role in fraud prevention.

First published on BankersOnline.com 5/19/03