{"id":15761,"date":"2021-07-13T09:26:52","date_gmt":"2021-07-13T09:26:52","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=15761"},"modified":"2021-07-13T09:32:01","modified_gmt":"2021-07-13T09:32:01","slug":"fraud-prevention-heres-why-your-business-needs-it","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/","title":{"rendered":"Fraud Prevention: Here\u2019s Why Your Business Needs It"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">As it\u2019s reported, ecommerce fraud has caused <\/span><\/i><a href=\"https:\/\/www.helpnetsecurity.com\/2021\/05\/03\/ecommerce-fraud-losses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><i><span style=\"font-weight: 400;\">20 billion dollars in damages<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> worldwide in 2021 alone. And as the virtual marketplace keeps on growing, so do the appetites of e-criminals.\u00a0<\/span><\/i><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-15762\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2021\/07\/Fraud-Prevention.png\" alt=\"\" width=\"512\" height=\"289\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/07\/Fraud-Prevention.png 512w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/07\/Fraud-Prevention-300x169.png 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/p>\n<h2><b>Fraud Prevention \u2014 Your Company\u2019s Shield<\/b><\/h2>\n<p><a href=\"https:\/\/covery.ai\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Fraud prevention solution<\/span><\/a><span style=\"font-weight: 400;\"> is like a stone wall for your venture: it won\u2019t let the scammers sneak in to hurt your success, reputation and, most importantly, your customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And if you think your company can pass on it, you\u2019re bound to think again. FIrst of all, there are multiple threats your online brand might be exposed to right now:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Identity theft<\/b><span style=\"font-weight: 400;\">. Scammers can steal someone\u2019s sensitive info to either pose as that person or sell it on the black market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Card testing<\/b><span style=\"font-weight: 400;\">. There are databases, which contain credit card numbers, on the dark web. E-criminals \u201ctest\u201d every single one of them to see if it\u2019s possible to squeeze money out of it or buy stuff from you.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>False chargebacks<\/b><span style=\"font-weight: 400;\">. The most common type, when a dishonest customer requests money back but also gets to keep your goods that you honestly delivered.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Account takeover<\/b><span style=\"font-weight: 400;\">. A customer\u2019s account gets hacked, which may result in identity theft.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Triangulation<\/b><span style=\"font-weight: 400;\">. An elaborate scheme, in which scammers sell your goods to other people and then claim a refund from you.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">And the scheme list keeps growing. The next target-to-hit might be your business.<\/span><\/p>\n<h2><b>Losses &amp; Consequences<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">If fraudsters succeed at one of their shady tricks with your enterprise, it will cause some unfavorable repercussions. For instance:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Finances<\/b><span style=\"font-weight: 400;\">. If they keep on making false chargebacks, you either risk losing a lot of money \u2014 bank fees, refunds, high-risk merchant account fees \u2014 or an option to accept bank cards.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reputation<\/b><span style=\"font-weight: 400;\">. Identity theft, account hijacking, test fraud \u2014 all of these can seriously damage your rep and scare away customers for a long time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Time<\/b><span style=\"font-weight: 400;\">. Disputing chargebacks, doing damage control, organizing protection after getting hit \u2014 it takes time, effort and some of your nerves too.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As you can see, it\u2019s best to take care of the security early on. And the best way to do this is by hiring trained experts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A professional team can offer:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Compliance<\/b><span style=\"font-weight: 400;\">. Your company will act in compliance with various protocols, including Card Industry Data Security Standard (<\/span><a href=\"https:\/\/www.investopedia.com\/terms\/p\/pci-compliance.asp\"><span style=\"font-weight: 400;\">PCI DSS<\/span><\/a><span style=\"font-weight: 400;\">) \u2014 it helps to successfully dispute false chargebacks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Detection<\/b><span style=\"font-weight: 400;\">. Thanks to Device Fingerprint know-how and Know Your Customer procedure, scammers can be detected and neutralized promptly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Training<\/b><span style=\"font-weight: 400;\">. Your staff will receive training and guidelines to handle fraud efficiently.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Extra safety<\/b><span style=\"font-weight: 400;\">. As a major bonus, you\u2019ll be provided with Trustchain \u2014 an environment, which filters out fake personas, bots, scammers, while also employing safety standards.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It\u2019s not just your reputation on the line when you enter the world of ecommerce. It\u2019s also the well-being of your customers who are seen as easy prey by the e-criminals<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, don\u2019t hesitate and protect your business right now. In the long run, it will bring handsome dividends: loyal and grateful clientele.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As it\u2019s reported, ecommerce fraud has caused 20 billion dollars in damages worldwide in 2021 alone. And as the virtual marketplace keeps on growing, so do the appetites of e-criminals.\u00a0 Fraud Prevention \u2014 Your Company\u2019s Shield Fraud prevention solution is like a stone wall for your venture: it won\u2019t let the scammers sneak in to [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":15762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3501],"tags":[6388,5440,8667],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fraud Prevention: Here\u2019s Why Your Business Needs It - OpenBusinessCouncil Directory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fraud Prevention: Here\u2019s Why Your Business Needs It\" \/>\n<meta property=\"og:description\" content=\"As it\u2019s reported, ecommerce fraud has caused 20 billion dollars in damages worldwide in 2021 alone. And as the virtual marketplace keeps on growing, so do the appetites of e-criminals.\u00a0 Fraud Prevention \u2014 Your Company\u2019s Shield Fraud prevention solution is like a stone wall for your venture: it won\u2019t let the scammers sneak in to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-13T09:26:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-13T09:32:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2021\/07\/Fraud-Prevention.png\" \/>\n\t<meta property=\"og:image:width\" content=\"512\" \/>\n\t<meta property=\"og:image:height\" content=\"289\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"Fraud Prevention: Here\u2019s Why Your Business Needs It\",\"datePublished\":\"2021-07-13T09:26:52+00:00\",\"dateModified\":\"2021-07-13T09:32:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/\"},\"wordCount\":502,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"keywords\":[\"cyber security\",\"fraud\",\"security\"],\"articleSection\":[\"Technology\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/\",\"url\":\"https:\/\/www.footballthink.com\/fraud-prevention-heres-why-your-business-needs-it\/\",\"name\":\"Fraud Prevention: Here\u2019s Why Your Business Needs It - 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