Today's ever-changing fraud environment can be challenging for commercial cardholders. Card program managers can help mitigate fraud by adopting some best practices for securing and managing a card program. These practices include the implementation of business guidelines and controls for card issuance and handling as well as regular transaction monitoring.
- Implementing business guidelines and controls for card issuance and handling is important for fraud prevention.
- Card program managers should be conducting statement reconciliations and audits of transaction monitoring on a regular basis.
- Use mobile alerts to provide real-time visibility into potentially fraudulent transactions.