At Iktisatbank we wish to inform you, our valued customers and merchant clients, that we know how important confidentiality and security for both online and manual transactions is and that we prioritise your protection against fraudulent transactions. To this end we would like to remind you of some important information.
Distorted / Counterfeit Card
Distorted cards, the name, the card expiry date, the card number and/or the magnetic strip has been tampered with. As a result this card would be classed as a dummy card. Dummy cards do contain a real card number. The real number is written on the front of the card and can also be seen on the magnetic strip on the reverse of the card. However the card may be missing some of the features of a real card. Our merchants should always use Chip & PIN to process transactions. Also obtain a signature from the client on the invoice or payment slip. The signed slip or invoice should be kept safe for any future possible reference or dispute.
Lost / Stolen Card
This is a card that has been lost or taken from the rightful owner and being used for fraudulent purchases or transactions. In these instances should our merchants notice that the person is acting strangely, under stress, incoherent speech then they should request to see the identification of the card holder and compare this against the name on the card. Our merchants must process the transaction using the Chip & PIN process. Also obtain a signature from the client on the invoice or payment slip. The signed slip or invoice should be kept safe for any future possible reference or dispute.
Mail Order / Telephone Fraud
This is when a person who does not own the card, using the card number (generally together with the expiry date and the 3 digit security code on the reverse of the card) makes a purchase via mail order or over the phone.
• To all our card holders, do not divulge any card information to any 3rd party including bank personnel, in this instance the card should be reported as lost or stolen to the bank immediately.
• To our merchants; obtain a signature from the client on the invoice or payment slip. The signed slip or invoice should be kept safe for any future possible reference or dispute.
If you are just starting to work with cards or simply want to refresh your knowledge of the security rules and information, the list below of tools and checklists may assist you in protecting your company.
If your client presents you with a card that only has a magnetic strip then you need to educate your staff with the following information.
• Check the long embossed number on the front of the card
All of Iktisatbank Smart Cards begin with the number 5 (five). The embossed number must be clear, all digits and spaces the same size and the number must stretch as far as the hologram (the hologram on the card). The last 4 digits of the embossed card number must be the same as the first four digits that appear on the signature strip on the reverse of the card. The number that appears under the embossed number must match, there should be no trace of any other number.
• Check the Hologram.
All of Iktisatbank Smart Cards display the MasterCard hologram. This is normally located on the front of the Smart Card either above or below the MasterCard Logo. However on some new card designs the hologram can be integrated on the reverse of the card or within the magnetic strip. The hologram is 3 dimensional interlocking hologram that reflects the light and appears as if it is moving.
• Check the signature
The reverse of the Smart Card must contain the signature of the card holder. The signature on the payment slip or invoice must match that on the reverse of the card. If you are suspicious then you must check whether the signature looks as if it has been erased and replaced, corrupted or falsified. In addition if the word invalid may also appear on the signature strip.
• Check the Magnetic Strip
The magnetic strip on the back should be straight and true and not show any signs of deterioration
• Check the Expiry Date
On the front of the card you will see the expiry date, do not accept the smartcard after the expiry date.
Your employees must ensure they check this information.
• Get to know the new Card design
In the near future MasterCard will be producing MasterCard Unembossed cards. Therefore the touch may be different but the reverse of the card will remain the same. To accept these cards as a retailer you must have an electronic terminal. At the same time MasterCard are changing the location of the hologram that is on the reverse of the card this will now be placed in the middle of the card.
• Is the card user the current card holder?
SmartCard is never transferrable. You must check that the card user is the card holder. You should check the signature on the payment slip or invoice matches the signature on the reverse of the card. Also observe the customer’s behaviour. When the client is carrying out the transaction check whether they are acting nervously or suspiciously.