Download our app
You can pay in cheques, transfer money, and do much more, all from your mobile.
Payment fraud prevention - tips for your business
Payment fraud continues to rise, putting pressure on UK businesses to stay vigilant. This guide highlights key risks across the payment journey and offers a free downloadable checklist to help your business stay protected and build long-term resilience.
Read time: 4 mins Added: 28/10/25
A practical guide
As retail and hospitality businesses navigate the busiest time of the year – the Golden Quarter - staying secure at every stage of the transaction is more important than ever.
We’ve created a practical guide and a downloadable checklist to help businesses stay one step ahead. From tightening payment processes to empowering teams, these tips can help protect your profits and keep operations running smoothly.
Before we get to the checklist, let’s share some important facts about fraud.
Fraud risk is rising
According to data from the Crime Survey for England and Wales, for the year ending September 2024, fraud is now the most common crime in England and Wales. It accounts for 41% of all reported crime. An estimated 3.9 million fraud incidents were recorded in the UK, up to the same period – that’s a 19% increase year-on-year1.
Common fraud types impacting payment acceptance
Fraud can occur at different stages of the payment journey. Here’s how it breaks down across checkout and post-checkout:
At checkout
Payment fraud
- Involves the use of stolen or fake payment card details, or compromised accounts - often through online channels.
- Fraudsters may use phishing, card-not-present fraud, or exploit weaknesses in your payment systems.
Gift card and voucher fraud
- Fraudsters use stolen payment details to purchase gift cards, or steal card numbers and PINs from physical cards or online systems.
- Scams may also involve impersonation or fake job offers to trick staff or customers into sharing codes.
Synthetic identity fraud
- Fake identities are created using a mix of real and fabricated data, often to open new accounts or make fraudulent purchases.
- Artificial Intelligence (AI) is making this harder to detect, especially in digital payment environments.
Post-checkout
Return fraud
- Fraudsters return stolen, damaged, or counterfeit goods for refunds or store credit.
- Tactics include returning empty boxes or switching price tags to inflate refund amounts.
Chargeback fraud ("friendly fraud")
- Customers dispute legitimate transactions, claiming goods weren’t received or weren’t as described.
- This can lead to financial loss and reputational damage.
Fraud prevention is a year-round habit
While the Golden Quarter brings heightened risk, fraud prevention isn’t just a seasonal task - it’s a smart business habit. By staying alert and regularly reviewing your safeguards, you’ll build resilience that lasts well beyond December.
Download our free payment fraud prevention checklist
To help you stay secure all year round, learn how businesses can stay ahead with smart, scalable fraud protection tactics.
You may also be interested in:
1National Crime Agency – National Strategic Assessment 2025