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Watch for Credit Card Fraud in Your Store

Thursday, March 16, 2017   (0 Comments)
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As identity theft and data breaches continue to be a problem for retailers and consumers in the U.S., it’s especially important for sales teams in high-dollar businesses, like jewelry, to stay alert and follow their security guidelines.

Private Label Credit Cards Susceptible to Fraud

Across the country, annual loss from credit card fraud runs in the billions. But, it doesn’t just affect the big credit card brands. Fraudsters also commit the crime in private label programs like the American Gem Society credit card program.

With stolen personal and/or account information, fraudsters can open new accounts or make high-dollar purchases with cardholders’ account information.

So, what can you do?

Train Your Staff to Recognize Fraud

Stay vigilant. A well-trained staff that knows what to look for is the best defense. And, follow these tips to help protect your business and your customers.

If you offer the American Gem Society credit card program, sign on to the Online Resource Center at for more fraud prevention tips.

Not signed up for the program yet? Learn more or enroll by calling 1-800-577-5191 Monday – Friday, 7:30 a.m. – 5:30 p.m. Central Time.

Help Prevent Credit Card Fraud in Your Store

  • Always verify credit card customers' identity — new applicants and current cardholders.
  • Closely examine cardholders' IDs.
    • For new program applicants, verify that name, address, and birth date on their ID matches the application
    • Check the ID’s expiration date
    • Ask for a second form of identification
  • Look for red flags.
    • Cardholder maxing out the credit limit
    • Non-custom transactions over $6,500
    • Applicant living outside your market purchasing large non-custom orders that they take with them (Ex. high-end watches, loose diamonds)
    • Anyone making expensive purchases in minutes
    • New applicants who seem hurried or anxious
  • Use technology to watch for fraud. Look for apps or software that could help you monitor out-of-pattern transactions on your smartphone or tablet.

© 2017 Wells Fargo Retail Services. All rights reserved. Wells Fargo Retail Services is a division of Wells Fargo Financial National Bank.


Mission Statement

The American Gem Society (AGS) is a nonprofit trade association of fine jewelry professionals dedicated to setting, maintaining and promoting the highest standards of ethical conduct and professional behavior through education, accreditation, recertification of its membership, gemological standards, and gemological research.

The Society is committed to providing educational products to inform and protect the consumer and to contributing to the betterment of the trade by creating industry standards to protect the jewelry-buying public and the fine jewelry industry as a whole.

AGS Laboratories, founded to support the AGS mission, is a nonprofit diamond grading laboratory with a mission of consumer protection. Adhering to the AGS Diamond Grading Standards, AGS Laboratories is dedicated to offering diamond grading reports that provide consistency and accuracy based on science.

American Gem Society