With the holiday season in full swing, it’s imperative that you give your store’s security a checkup: especially when it comes to credit card fraud.
John J. Kennedy, president of the Jewelers’ Security Alliance (JSA), told National Jeweler Magazine that the organization is noticing a significant amount of credit card fraud. This form of theft was the only category of crime across the industry that had increased by the middle of 2016; in August, the JSA reported that the occurrence of this issue had increased by five per cent.
Kennedy notes that it is imperative for jewellers to strictly follow card company requirements to avoid chargebacks. Usually, criminals will try to deviate salespeople from the required procedure. Additionally, some perpetrators will make a phone call “to the credit card company” if the transaction fails to go through, which is actually to an accomplice who provides a “force code” that permits the sale.
Additionally, taking a client’s card information over the phone is never a good idea, as it is difficult to know whom you are speaking to.
Kennedy also suggested that jewellers be meticulous during times of high traffic, which run from November through to January. The JSA’s 2015 crime report revealed that January was the most active month for all types of robberies, meaning that jewellers must be diligent at this time.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
