Did you know that fraud can cost you your business? Ensuring the safety of your business helps assure you of frequent customers. Unfortunately, maintaining a secure business does not depend on your security staff or locking the cash register alone.
You should ensure that your card swipe machine or touch POS machine is safe from fraudsters, cons and hackers. Here are several helpful tips on how to keep your swipe machine safe.
Keep track of your equipment
Do you know how many swipe machines are in your store, even those that aren’t in use? Keeping track of your devices is crucial because it’s easier for you to notice any discrepancies. You can track your POS machines by labelling them, attaching their serial numbers, model, and location.As you label, ensure that you specify those that are in use and those that aren’t. It’s also better to separate the two and keep the unused ones where the staff can’t get them.
Inspect your devices regularly
Have you ever heard of skimmers or keyKatchers? These are tiny devices that criminals attach to swipe machines and touch POS machines to copy customer’s card data so they can steal from them and your business. Some of the things you should inspect include USB drives or any other attached objects on the card slot and any damage to the machine.
Note that USB thumb drives are becoming smaller and might be harder to notice, so be extra observant while checking. It helps to unplug the machine so you can check under, front and the back. Check if the serial numbers, model numbers and manufacturer names are correct.
Is the device where it’s supposed to be in the building? Has the number of connections on the device changed? Experts recommend that you do these inspections weekly to ensure that your business is safe.
Educate your employees on machine safety
You can have the best swipe machine for your business, but if your employees don’t know how to spot fraud, your customers can easily be victims of fraud. Note that fraudsters are becoming more advanced in their craft, and as an owner, you might not always be present at your business, but your regular employees are.
So, you must educate your employees on the current tips and tricks that criminals use to defraud people. For example, if a random maintenance person shows up at your business without notice, your employees should phone the manufacturer to find out if they sent them.
Another way criminals commit fraud is by sending new device packages to your store for a replacement. Teach your employees to always confirm with the manufacturer and with you whether it’s true.
Here’s an additional tip for you, as an owner, it’s always good to do employee background checks. Making the right hiring decision is the first step to maintaining a secure business.
Have a password policy
This is important, especially if you have a touch POS machine and other IT systems. First, not every employee can have a password. For example, for supermarket employees, the branch manager or the supervisor has the password. Furthermore, ensure that you change passwords for your machines regularly and make them complex.
Fraud is a problem that business owners worldwide face every day. As a business owner, be aware of the latest methods used by criminals to steal from customers and businesses.
A final tip for you is to get your business insured against damages from fraud. As much as criminals steal from your customers, they can also steal from your business account so getting insured is a good idea.
