One of the most important aspects of having an E-Commerce business is the prevention of fraud. E-Commerce Fraud prevention will make your business stronger, more reliable, and all in all better. Here are five tips from thehostingnews.com on what you could do today to optimize your fraud protection.
1. Address verification service (AVS) – This automatically starts verifying the address the customer provides to the address provided by the credit card issuing bank.
2. Fraud prevention software – This will detect malware driven transactions, phishing attacks, and other criminal activities. The key is prevention!
3. Require CVC2 and CVV2 verification – The 3-digit security code on the back of a credit or debit should be requested in addition to the expiration date. This extra security measure can eliminate fraud since it was less likely for a cyber criminal to have both the card number and the 3-digit code.
4. Note country of origin – Check the customer IP address! If your business is primarily based in the US and you see traffic that originates from other countries, this could be a sign of fraud.
5. Always verify – If you have any issues or suspicious, always contact the consumer.
Fraud prevention is not just about good technology, it also relies on good business practices. Make sure to educate your consumers about online security.
If you have any questions, comments, or additional tips on how to prevent fraud, please comment below!