Fraud is a serious concern for both merchants and their customers. A fraudulent credit card transaction could involve an invalid account number, unauthorized use of a valid account number or a lost or stolen card. Card skimming is the most common form of debit card fraud. Fraudulent transactions normally occur within hours of loss or theft and in most cases the victim has not yet reported his/her card as missing or stolen.
Fortunately, credit and debit cards issued in Canada are designed with special security features to help deter counterfeiting and fraud, and your actions can further protect your business and your customers.
The information below is designed to help you protect against fraud losses.