Transguardian Covers Credit Card Fraud Shipping Risk

New York, NY, October 18, 2012 --(PR.com)-- TransGuardian www.transguardian.com paid a $12,000 claim involving credit card fraud to Prestige Time LLC, of Airmont, New York for loss of a watch in transit.

The claim occurred as follows: Prestige Time received an online order for an Audemars Piguet watch valued at $22,150. FedEx delivered the watch to the buyer’s residence, obtaining a signature. A day later the credit card holder phoned his bank disputing the charge, stating that he never placed the order and had not received a FedEx parcel. It turned out that the credit card was subject to an account take-over by fraudsters & (here is where it gets real scary) the crooks then waited outside the original billing address residence & intercepted the FedEx driver. Using fake ID they convinced the FedEx driver to hand over the parcel at the curb.

“We assigned the case to our investigative team, DF Randolph & Associates,” said Jim Moseley, TransGuardian’s President. Don Randolph’s group worked the investigation analytically and in the field, interviewing all parties, eyewitnesses, and cooperating with law enforcement local to the crime. They delivered a thorough, 18-page report, identifying the fraudulent methodology employed.

“We have been selling watches online since 1999,” said Ben Herszberg, President of Prestige Time. “Over the years we have gained great experience detecting and avoiding credit card fraud. We deal in a commodity that is extremely easy to flip for cash – making us a prime target for fraudsters. As the internet evolves, so do the crooks. I would venture to say these thieves are at the forefront of technology. They know all about how credit card banks work and they’ve mastered techniques for avoiding the banks’ fraud detection measures. We’ve seen fraud methods grow extremely sophisticated and exceedingly difficult to detect.”

“Here’s where dealing with TransGuardian really counts,” said Mr. Herszberg. “Traditional parcel insurance would never have covered this claim, they would have shifted the blame to the credit card bank. Not TransGuardian! They went out of their way to determine exactly where and when the package went missing. After a thorough investigation (at their own expense), they concluded our claim was just and the check came quickly. Last but not least, it’s always a comfort to know that when you call a company you get someone on the phone that knows who you are and cares, rather than an anonymous operator.”

Companies that sell online should have a well-thought out set of rules regarding acceptance and shipping of orders for which the actual credit card is not present. Equally important is not to deviate from those rules. Vendors should verify the buyer’s ship to and billing addresses, speak to the client on a traceable telephone landline, and confirm the transaction with the bank issuing the credit card before shipping.

“At the end of the day,” said Mr. Herszberg, “it’s up to the vendor to make the right decision. If the wrong choice is made, well, you’re in for a world of hurt. Don’t expect the credit card banks to take any responsibility. The rule of thumb is this: if anything doesn’t feel right, walk away from the deal.”

TransGuardian is foremost provider of multi-carrier, online insured small parcel shipping, serving some of the largest gold dealers and jewelry retailers in the USA, as well as thousands of mid-sized shippers of high-value merchandise.

TransGuardian’s proprietary online software includes automated and highly effective risk-mitigation protocols, along with a uniquely experienced Risk Response Team. Over seven years, TransGuardian has statistically achieved the highest level of security ever realized for small parcel shipments of high-value merchandise.

“Managing claims is part of our service bundle,” said Madlene Moseley, TransGuardian’s COO, “We know claims are a painful experience for our clients, and we are their advocates. We are committed to getting the best forensic analysis we can achieve. This means we recover more merchandise than any other service. And when claims are adjusted, we have documents, interviews, research, photos, maps and professional analysis to support the right decision. It’s safe to say we have a highest percentage of satisfied claims in our industry.”