Commercial fleet cards represent a flexible and secure payment solution for organizations of virtually every size and industry. In a single card, it is possible to set, monitor and analyze spending on both fuel and non-fuel expenditures on a per-driver basis. Fleet managers have a central method for managing financials and reporting, and a way to influence driver behavior.

Fraud is Costly. It Pays to Prevent.

01.8.16

Credit Card at Gas StationCommercial fleet cards represent a flexible and secure payment solution for organizations of virtually every size and industry. In a single card, it is possible to set, monitor and analyze spending on both fuel and non-fuel expenditures on a per-driver basis. Fleet managers have a central method for managing financials and reporting, and a way to influence driver behavior.

Commercial fleet cards also offer powerful fraud prevention mechanisms. With the continued rise of cyber security threats to corporate finances and reputations, it’s more important than ever for companies to act with vigilance.

Identify Every Possible Source of Fraud

While commercial fleets face fewer sources of fraud risk than private cardholders – thanks to the oversight from fleet managers – there are four main fraud sources:

  1. Lost cards
  2. Stolen cards
  3. Counterfeit
  4. Friendly Fraud

Of those risks, the area of greatest concern for organizations traditionally has been Friendly Fraud. In simplest terms, this is when drivers use their commercial card to make a purchase, and then requests a chargeback after receiving the purchased goods or services. With controls like pump shut off and authorized spending categories and limits, however, fleet managers can easily prevent these and other fraud risks.

11 Effective Tools for Preventing Fleet Card Fraud

  1. Regularly confirm that each correct card is kept with its assigned vehicle
  2. If a card is lost or stolen, lock the card immediately
  3. Immediately lock the card if its vehicle is transferred, sold, or retired
  4. Collect and destroy any old cards that have been updated or replaced
  5. Lock all spare cards physically and in the online database
  6. Conduct regular inventory checks on cards and IDs
  7. Lock any vehicle card or driver ID no longer in use
  8. If a driver is dismissed, locate their card(s) and lock their ID
  9. Issue each authorized fleet card user with a confidential 5 digit Driver Identification Number (DIN)
  10. Set use controls for time of day, location and category limits
  11. Engage Comdata Enhanced Authorization Controls to monitor transactions in real time, customize card authorizations, manage card use by cardholder, account, and merchant, and set alerts for transactions that fall outside set rules for each user

Comdata has been engaged with the commercial fleet card industry since its inception in the early 1980s. Today, we’re the leading commercial fleet issuer in the U.S. because we understand the risk environment, and have continued to develop our robust solutions so you can ensure the security and efficiency of your fleet and your company.

Contact us for more information  about how you can prevent fraud in your operations.