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Tips for Small Businesses to Avoid Cash Reserves in a Recession

Published on May 19, 2009, by in Payments.

During a recession acquirers are more inclined to see a merchant’s increase in sales as a risk. Legitimate merchants showing too much growth over a short period of time can be deemed high risk and the acquirer may decide to implement or increase reserves. But merchants who find themselves in this scenario can take steps to

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Will Economic Downturn Lead to Increased Fraud?

There have been a number of recent articles outlining how the economic downturn will result in increased fraud, which I believe have inaccurately portrayed the real fraud risks in an economic recession. While many make the case the fraud will increase during times of economic uncertainty, we are also seeing companies paying closer attention the

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Legislation in the Works that Could Affect Future Trends in Fraud

New legislation may provide fraudsters with legal loopholes. The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act includes regulation that prohibits providing information about newly opened accounts before they are activated by customers, which could create an increase in fraudulent credit card applications. Read More

 
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Layoffs? Watch Out

Don’t learn the hard way about what a disgruntled employee is capable of doing. Fannie Mae waited to remove root access from a terminated employee and almost suffered dire consequences. Managers need to think about procedures and practices to protect their companies exposure when letting employees go, especially those in payments or fraud departments. Read More

 
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