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Any serious businessman or woman will implement security measures to make sure their customers do not steal from them.  They will also take similar measures to make sure that their employees do not steal from them either.  But how many businesses have established security measures to make sure that their employees do not steal from their customers?  The best merchant account security will do just that; prevent employee data theft.

Employee data theft consists of any employee who steals credit card information from a customer.

This can be done in several ways.  The first and most primitive was is done by quickly jotting down the credit card information or taking a picture of the credit card with a smart phone.  More elaborate thieves will attempt to hack the network that the company uses to process their payments.  And then there is the portable credit card skimmer.  A skimmer is a small portable device that is usually attached somehow to a legitimate credit card reader.  Skimmers record the data from the magnetic strip on the card.

Customers are not the only victims when an employee steals credit card data.  Merchants are fined and have to deal with chargebacks and if the data theft is a chronic occurrence, the credit card companies will eventually cut the merchant off completely.  Hence the importance of prevention.

Protection

One effective way to assure merchant account security and prevent employee data theft is through employee education.  Employees should be familiar with what a skimmer looks like and know how to report one when found.  They should be familiar with PCI security standards and know how to securely perform transactions, communications and the handling of privileged documents.

Network security should be implemented and regularly reviewed.  Alerts should be created to inform merchants when a network has been accessed and when new accounts have been  set up.

Everyone needs to be dedicated to merchant account security, not just the larger corporations.  Afterall…85% of data breaches occur at small businesses.

Posted in credit card processing, Merchant Account, Payment Processing on Sep 04, 2013