Hi @lionheart-22. First, I’m sorry to hear that your business has become a fraud magnet. You don’t say what kind of online business you have, but some seem to attract the fraudsters. I hope that calms down soon. Now…
Square has a Risk Manager that you can use. You can view your risk exposure, and even set up rules for your online transactions. As an example from my business, I see up a “Require 3D Secure” rule for enhanced card verification based upon parameters I want to have. 3-D secure is an additional security layer for online card transactions that is used by Visa, Mastercard, etc. Here’s a link to a Wikipedia article about it.
You can also have Square alert you to risky transactions as you define them. And it has alert metrics and reports.
Go to the Risk Manager page to see what is available. Also there are lots of articles on the subject of the Square Risk Manager. Here’s a link to the results of me searching Square Support on the topic of “Risk Manager.”
Nothing is going to stop credit card fraud. But this area of Square should help, especially since it seems that your business attracts fraud. You should spend some time looking this over. Remember that Square is a middleman in the card processing scene. They take your transaction and submit it to Visa, Mastercard, etc, who ultimately make the decision to approve or not.
I wish you the best.
Hey @paulonovaes. Sorry to hear about your problem. At first, I was confused because the thread you posted this in has to do with fraudulent deposits that are testing for accounts that are active — a MUCH different problem than yours. So, please in the future start a new thread for a new problem and don’t hijack the threads of others. That will keep confusion to a minimum. Now…
If your Square debit card was used fraudulently, then the first thing you need to to is cancel/deactivate it. From your online dashboard go to Balance > select your location. Click on the gear icon in the upper-right corner and select Checking settings. From here you can lock your card and also order a new card if you need to.
As far as disputing transactions, you should call Square customer support. No one here will be able to help you investigate it or get your money back if fraud is determined to have happened.
Hi @lionheart-22. First, I’m sorry to hear that your business has become a fraud magnet. You don’t say what kind of online business you have, but some seem to attract the fraudsters. I hope that calms down soon. Now…
Square has a Risk Manager that you can use. You can view your risk exposure, and even set up rules for your online transactions. As an example from my business, I see up a “Require 3D Secure” rule for enhanced card verification based upon parameters I want to have. 3-D secure is an additional security layer for online card transactions that is used by Visa, Mastercard, etc. Here’s a link to a Wikipedia article about it.
You can also have Square alert you to risky transactions as you define them. And it has alert metrics and reports.
Go to the Risk Manager page to see what is available. Also there are lots of articles on the subject of the Square Risk Manager. Here’s a link to the results of me searching Square Support on the topic of “Risk Manager.”
Nothing is going to stop credit card fraud. But this area of Square should help, especially since it seems that your business attracts fraud. You should spend some time looking this over. Remember that Square is a middleman in the card processing scene. They take your transaction and submit it to Visa, Mastercard, etc, who ultimately make the decision to approve or not.
I wish you the best.
You’re welcome. Hopefully as you become more familiar with Risk Manager capabilities, and if you review its reports regularly, you’ll see an improvement pretty quickly. I hope so, anyway.
Hey @paulonovaes. Sorry to hear about your problem. At first, I was confused because the thread you posted this in has to do with fraudulent deposits that are testing for accounts that are active — a MUCH different problem than yours. So, please in the future start a new thread for a new problem and don’t hijack the threads of others. That will keep confusion to a minimum. Now…
If your Square debit card was used fraudulently, then the first thing you need to to is cancel/deactivate it. From your online dashboard go to Balance > select your location. Click on the gear icon in the upper-right corner and select Checking settings. From here you can lock your card and also order a new card if you need to.
As far as disputing transactions, you should call Square customer support. No one here will be able to help you investigate it or get your money back if fraud is determined to have happened.
I think they are saying that is a charge on their credit card as that is how names appear on a credit card. I tried googling the business based on parts of the name but couldn't figure out anything.
@paperqueen Can you send me screen shots of the rules that you’ve set up to trigger alerts for you to review? I’d like to see them to give you some further recommendations.
Also, I want to clearing a few things. Risk Manager allows you to create rules that sometimes block transactions and sometimes doesn’t. Just setting up the rules isn’t enough. If, as you indicate, your online store is a magnet for bad actors who are trying to scam you, you have to review the list of alerts every day. For those transactions that made it through with alerts only, you still have the opportunity to reject them and refund the money if you want to. Ultimately you have the control.
Square has plenty of conditions for alerts and for invoking 3D Secure — AVS, CVV, transaction amount limits, number of transaction attempts, and so forth. But nothing is, or can be, perfect.
Here is a link to Risk Manager rules information. There is a short video that is well worth watching, if you haven’t already. But basically, it shows you how to go through the manual steps of reviewing alerts regularly to stay on top of fraud.
I’m willing to help you make your alerts a little tighter if you want, and to give you tips on using Risk Manager to your advantage. But first, watch the video. Then send me screen shots of the rules you have already set up. We’ll go from there.
Best,
