Case Study: Fraud In Retail & Counterfeit Money

Fraud Prevention Snapshot: Valero Energy Convenience Store Fraud Halted
A Case Study: Improved Facility Safety through Fraud Prevention

Plagued no more with counterfeit transactions businesses get back to customer satisfaction

Counterfeit fraud at the nation’s convenience store and gas station locations has reached epic proportions.  Few industries are as exposed to counterfeit currency and fake I.D.’s as the C–store industry.  High transaction volume, transient customers, and a relatively high percentage of cash transactions have for years added–up to large losses from counterfeit fraud.  Add to this the need to detect fake I.D. documents due to the C–Store industry’s sales of age–restricted products, and it can easily be seen that the Fraud–Fighter product line is a great fit for any business in this industry.

Identifying Fraud and Complying with Age Restricted Sales Regulations:

Valero Energy, one of the largest operators of branded gas station/convenience store locations in the United States, uses the Fraud–Fighter UV–16 in a significant percentage of its stores. Valero has approximately 4,700 retail sites branded as Valero, Diamond Shamrock, Ultramar, Beacon and Total.

The UV–16, installed at the cash–register counters in the Valero stores, provides the cashier with a single tool that can be used to test for counterfeit money, counterfeit “skimmed” credit cards, fake I.D.’s, such as state driver licenses from 38 states, counterfeit cashier’s checks and money orders, and fake traveler’s checks.  Since most of the store locations require only a single unit, typically, the prevention of a single fraudulent transaction is enough to produce immediate positive return on investment.  Obviously, the ability to verify I.D’s enables the avoidance of underage sales of tobacco and alcohol, thus preventing large fines and the potential loss of liquor licenses.

Conclusion: Discipline of Innovation Increases Competitive Edge

Perhaps even most important, the use of the equipment as a deterrent to criminal activities leads to a secure work environment.  Over time, prospective criminals with intent to pass counterfeit documents learn that Valero locations are no longer an easy target for their activities.  As fewer counterfeiters and underage patrons gather at the Valero locations, the general business environment becomes safer, and Valero customers feel better about shopping in their stores.  Fraud Fighter is endorsed by more than seven state retail associations around the country, and can be seen in retail and grocery stores of all sizes.