Top Tips on how to Spot Online Fraud

Online Fraud

Congratulations, you’ve created your online business and now you’re up and running and ready to begin processing orders and enjoy the fruits of your labour. Perhaps you’ve been operating for some time and think you’re up to speed with what online fraud looks like. Knowing what online fraud signals to look out for is the first step towards safeguarding your business, intellectual property and livelihood. The second, and more crucial step, is knowing what to do about it.

Online Fraudulent activity is not limited to credit card transactions

Discrepancies in name, email address, billing and physical addresses against bank records are potential red flags requiring further investigation. To hurry the transaction along the purchase could be less than the expedited cost of shipping, or perhaps there are multiple declined transactions on the same card, all of which give rise to suspicion.

Unusual trading activities such as large purchases from an unknown source is something to be inspected since typically consumers making high price purchases would have touched base beforehand. Similarly, multiple small item purchases from the same account are also a good indication something might be awry.

Another possible online fraud trigger to be aware of is unfamiliar interaction from overseas. If you’ve been operating for a few years and suddenly get an influx of orders from a country you’ve never done business with, you could be dealing with online fraud. Again, these all require immediate attention and are time sensitive. All the above are online fraud signs, and whilst not complex, the amount of time required to sift through, and double check dubious sales is a heavy burden. Theoretically, one could catch sight of suspicious, amateur fraudulent transactions provided they aren’t too busy with other things of course.

But what about the professional scammers who make it their business to ruin yours?

Consider multiple (and different) card transactions from the same IP address. Would you know how to detect this was even occurring? How about those who hide their IP addresses by way of proxy? These technological strategies used and shared by fraudsters are less easy to identify.

eCommerce businesses by nature are in a difficult position of validating their clients.

And, fraudsters today have highly sophisticated technology at their disposal designed to keep you from noticing anything is wrong until it’s too late, leaving you spending valuable time and money trying to recover your financial, and emotional revenue.

Large or small, every business operating online should have a prevention strategy as part of their operation. Online fraud is a real threat to your business’s health and well being and investing in that protection is tantamount to success in today’s online global market. eCommerce

eCommerce Virtual Services offers you relevant up to date bespoke solutions to fit your needs in this area. With fifteen years eCommerce business experience under their belt you can rest assured you’re in safe hands, so you can focus on driving your enterprise confidently and securely into the future.

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