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If you are a merchant, particularly someone who sells products online, the chances of your business being exposed to credit card fraud is highly likely. For many

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

businesses, credit card fraud is a cost that they apportion into doing business and they may even account for it in how the price products – similar to how a bu

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

siness may account for bad or doubtful debts. In the UK for example, government published statistics reveal that credit card fraud has went up from ?83.3m 10 yea

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

s ago to ?504.8m just before the introduction of the chip and pin scheme. Chip and pin is a system where by a number is assigned to each credit card, meaning a t

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

hief has to do more than just fake a signature to complete a purchase with someone else's credit card. This has been said to have reduced fraud by 13% since its

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ntroduction.

With so many different types of credit card fraud, it is important to have a strategy to address each one. This article offers an insight into prev

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ention methods for well known techniques of committing credit card fraud.

Card Not Present Fraud

CNP fraud is among the fastest rising category of fraud. The m

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ain reason for this is that it is becoming much harder to commit fraud in person, especially with the introduction of Chip and Pin. As online credit card fraud i

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

creases there are some measures that all merchants can take to ensure their associated costs of being exposed to online credit card fraud can be reduced.

●

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

; Call back customers to confirm orders. Although this is also a cost center, it could be used as a technique when the transaction appears somewhat out with the

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

rdinary

● Pay attention to transactions where the delivery address and cardholder address are different

● AVS or CSC verification doesn't remove ri

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

sks 100% but it removes the ability for fraud to be done base solely on acquiring account details with out having the credit card in person.

Card Present Fraud

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

Card Present Fraud has become increasingly hard to commit, and as a result it is no longer associated with being a white collar crime as is often the case with

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

NP fraud. Despite this, face to face or swiped card fraud can still be an issue which retail merchants still have to deal with. Following certain protocols can h

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

elp to limit the chances of you being affected, and ensure that your business is refunded by following the correct procedures.

● Train employees to be on

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

he look out for people who appear nervous or uncomfortable. They should not confront then based on that alone, but they should certainly be discreetly vigilant w

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

hen they do.

● Check that the card number that is embossed matches the card number on the receipt. Pay particular attention to the last 4 digits if this h

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

as to be done discreetly and promptly. If they are different then it is important to act. In situations like this it is likely that skimming has taken place.

Fi

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ally, large orders from overseas countries with US Billing address are almost always fraud so it's better to have these customers pay via western union or bank w

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ire. Many times fraudsters will order a large order using a stolen credit card and by the time you've discovered the card is stolen you already shipped the order

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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The use of organized methodologies for the development of systems and software have been around for 35 years. Today, there are dozens, if not hundreds, of methodologies available for use. Regardless of what methodology you elect to use, there are some serious implementation considerations to ponder and it would be foolish not to look before you leap into one.

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Useful Advices - How to Stop Credit Card Fraud

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