Online shopping fraud is not only a
problem among shoppers it is also a major concern among businesses. Online
shopping did not only open opportunities to legal businesses, it also opened a
lot of opportunities for many scammers. Scammers are finding creative ways to
take advantage of many online businesses, including online shopping stores.
The impact of online shopping fraud
on businesses can be quite serious. In some cases, businesses are forced to
close down due to significant losses caused by various online shopping fraud
schemes. This is the reason why many shopping sites are stepping up their game
by finding ways to protect their shops against scammers. If you are planning to
start your own shopping site online, it is highly recommended that you learn
some of these protective tips to secure the interest of your business.
Tips for Protecting Your Business
Against Online Shopping Fraud:
● To protect your business against online shopping
fraud, you must first learn about the different shopping fraud that can be
committed against your business. Read forums, news and business blogs to learn
about the latest news about your industry. This is similar to conducting
research or a case study. The more timely and relevant information you know the
better. One of the most common problems of online shop owners is credit card
fraud.
●
Once you find out which online shopping fraud schemes can easily affect your business, you can finally begin planning your
business security tactics. This may include implementing a verification system
on all credit card payments. Since the payment system of online shopping sites
is where sensitive information goes in, it's always under constant attack. This
is the reason why many shopping sites put in a lot of effort in securing this
area. The verification system and security measures you have to implement in
the payment section of your business will depend on the mode of payments that
you are willing to accept.
●
If you are planning to open a big online
shopping site that can cater to a large number of shoppers, it is highly
recommended to utilize automated fraud security system. An automated fraud
detecting system is one of the many technologies that you can implement in your
business. This technology helps filter fraud by denying suspicious shoppers
from successfully placing a purchase. Small shopping sites often do this
filtering process manually. However, for shopping sites with large volume of
daily sales this option can be quite impractical and may even require more
manpower.
●
Always keep a signed copy of proof of delivery.
One of the reasons why shopping sites spend a lot of money on online shopping
fraud preventive measures is because the safest payment methods like
credit/debit cards and PayPal often favors shoppers when they file a dispute,
claim or chargeback, so the shopping site owners are the ones who usually
suffer the loss. This is the reason why it is important to keep proof or
evidence that you kept your end of the bargain and delivered the product that
was paid for the shopper. You can use this evidence to help argue your side in
case a shopper files a dispute or claim.
The details provided above are some
of the tips that you can implement to protect your business against online
shopping fraud.
