The theft of credit card numbers is enormous. It is estimated that as many as 40% of all online transactions are bogus.
This article is normally an electronic booklet sold on my site, but I decided its content was too important to not share with you.
How To Protect Your Online Store from Internet Burgulars by Lynne Schlumpf, CEO Copyright 2000 Route 66 Cyber Cafe, Inc.
One of worst things that can ever happen to an online store on Internet is lurking at every storefront out there. The Internet burgulars, as I like to call them, are waiting for you to let your guard down just for one second while you're processing their credit card number. It is at that point that you may as well just walk out in middle of street and throw every bit of money in your wallet and pockets at next car that goes speeding by. Or better yet, whatever merchandise it is that you are selling online, just go throw about 40% of your inventory into streets to let others come and pick it up. This sounds like a ridiculous analogy, I know, but it illustrates how much they can hurt you. That estimate is not overstated.It is estimated that this could be percentage of lost sales to fraud on Net.
They think they're crafty, and they're costing people their hard-earned savings, business they worked so hard to create, and they don't care. All they care about is fast merchandise of right kind to offload and sell on streets, or whatever it is that these crooks do with it.
You will find some of stories I am going to tell you not only funny but ridiculous. I am not making light of a serious subject, believe me! This subject has obviously become a sort of a quest for me. I want to stop them, and I want you to help me. I don't want to see you give away even one cent to these people. Your business does not deserve thievery that abounds.
I am not saying that this type of practice did not exist before Internet became a household word. It was happening EVERYWHERE! I used to have a friend who was a manager for a COMPUSA store. This was a very large store with thousands of orders a day, but this guy knew what he was doing. He did not lose anything to these people. He taught me many of things I am going to pass on to you. I remember being in his office one day, and phone rang. Some women was screaming so loud at him, I could hear her across room. She was yelling that she was supposed to have her laptop delivered by next day mail, and it had not arrived yet. I thought, boy, they must've really messed up her order or something.