Wednesday 31 January 2018

Protect Your Customers From Cyber Fraud

Cybercrime is rampant these days. Be it a ransomware attack or an IoT based DDoS attack, cyber criminals are increasingly coming up with new ways to gain unauthorized access to systems. No company is immune from data theft. Hackers are always attempting to steal customer data. Protecting customers from fraud is a major concern. If you run a business then protecting your data from hackers should be your top priority.

Cybercrime can take many forms and online merchants should be vigilant regarding all transactions that move through their online stores. Hackers are becoming increasingly sophisticated and organizations should revamp and re-analyze their current security protocols to protect their customer data. A risk based approach to cyber security is the best way to safeguard your critical data and systems. Some industry observers say that cryptocurrency is one way to avoid payment related frauds. It is difficult to commit a cryptocurrency fraud due to the underlying encryption techniques used by digital currencies.

Online business owners can follow these simple rules to detect and avoid frauds:
  • Always check the credentials of new customers. This is most important especially if they are placing large orders with your business.
  • If the goods being bought are of high value and are being bought in multiple quantities, you should be careful as this could be a fraud transaction.
  • You should check the delivery address provided by the customer. Fraudsters usually try to get businesses to deliver good to bogus addresses.
  • You should be careful if the customer tries to split the cost of the goods over many cards.
  • If you feel the purchaser has stolen your customer's identity then query him about previous orders.
  • Check if the orders are from outside the country where your business does not sell any goods.
  • Invoice sent in emails should be scrutinized to ensure they are genuine.
  • Always keep the firewall in your system up to date to avoid any customer information from being stolen.

No comments:

Post a Comment