Processing International Orders – Use Caution
International fraud is a growing global phenomenon. The threat of fraud can come from anywhere in the world, and the proceeds of fraudulent transactions can be spirited away across borders, requiring lengthy, costly and complex processes to repatriate stolen funds.
There will always be those who take advantage of others. Businesses will never be free of fraudsters but they can take steps to avoid them. Here are a few good practice suggestions.
1. For new customers and orders that may be suspect require that the buyer fax over both sides of their credit card along with a valid form of identification. Your card processors are also a great resource concerning questionable orders.
2. Shipping carriers can be very helpful regarding International shipments. UPS provides valuable resources to help fight fraud and they have provided customers with an email to report abuses at firstname.lastname@example.org.
3. Suppliers should be aware that wire transfers can take up to 10 days to process, hold product shipments until you are sure payment has been received.
4. Some payment processors and card companies can offer your business expanded fraud protection packages, these are unfortunately very expensive.
It you can’t afford for others to provide you with protection make sure to use good common sense when accepting orders and payments internationally. Remember when it looks too good to be true, yup, you guessed it, it probably is. Supply and Buy Safer this year! Our entire staff at GetThatWholesale.com wishes everyone a fantastic upcoming holiday buying season