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PROTECT YOU AND YOUR CUSTOMERS AGAINST ECOMMERCE FRAUDThe popularity of the dotcoms brought along with it rampant ecommerce fraud. Now, more than ever, the ecommerce entrepreneur must defend against the many unscrupulous people out there who try to grab the money out of the pockets of millions of unsuspecting online customers. This is so prevalent that entire companies who specialize in ecommmerce fraud prevention have appeared and are very busy keeping ahead of online criminals. Let’s see what ecommerce fraud really is – this term which, on the surface, covers any type of cheating that takes place where ecommerce is carried out, but actually means much more to online merchants. Always Be Careful Just as you would in the real world, you will need to be careful not to be cheated when you want to buy something over the Internet and as an Internet merchant, do your best to protect your customers. As the Web explodes with thousands of new shoppers daily, so too do scammers and con artists propagate. Whether they use email “phishing,” website “spoofing,” or any other online criminal methodology, it’s up to us as “net-savvy” entrepeneurs to stay ahead of them. It truly is a case of the wise, the good, and the strong protecting those less wary and not as cautious. It is necessary to stay updated on the latest approaches that “e-bandits” are using to dupe the unaware-you can be assured that clever lawbreakers are concocting new crime strategies as you read these words: While we have defined the basic key points below, be sure to research new scams using your favorite search engine to get current anti-theft and other electronic fraud-reducing technology information. In order to ensure that no one becomes a victim of ecommerce fraud, you may want to keep the following points in mind: 1. Check orders for discrepancies – many times big business houses have a ecommerce fulfillment software in place which will carefully filter any order which shows that it is unusual in any way. The orders thus filtered are then manually checked to ensure their authenticity. This will prevent the money, time and effort lost in completing the order only to find out that it is a false lead. 2. Identify scams early – many people, who steal payment information over the net, will use that information for their benefit, i.e. buy things over the net from online sellers for themselves. In case the address given for the credit card and the address given for delivery differ, it is worth an investigation. There are legitimate reasons for this too, such as gifting something, or having a billing address at an office but wanting the goods to be delivered at home, etc. So not all Internet shoppers who have the addresses mismatched are actually committing ecommerce fraud. Those engage in online sales nee to be careful here. Do not have an automated rejection of orders that come under this purview.as you might cancel in the process a large number of serious customers. 3. Verify the address at the earliest time of contact – Many companies check on whether the information given at order registration time is true – specifically, things such as address, phone numbers, etc. If there is any discrepancy found, they put a red flag on that customer and watch him/her closely. There are special ecommerce security companies which will carry out this verification for you. 4. Communication – document all communication you carry out with any and all of your customers. This is great insurance in case of ecommerce fraud that sometimes stretches to cover the business houses that these fraudulent perpetrators transacted with as well. You should first try to get in account with a bank but, they may have a lot of criteria to pass before they will allow you to open an account. If you are turned down at the bank, you will need to apply with an independent organization. Our world has become much more financially dangerous with the rise of online shopping; there are electronic predators that lurk on the Internet just as a purse snatcher or mugger roams the streets of a neighborhood looking for the weak and unaware; it’s more important than ever for the Web merchant to have knowledge of the fraud risk and to be vigilant, not only for himself, but also on behalf of customers. |
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