E-commerce has benefited small enterprises a great deal, but it has also come with the prevalence of online fraud. New merchants suffer the most at the hands of fraudsters because they often lack the resources to implement comprehensive fraud detection protocols. Consequently, the rewards of running an Internet-based business have been marred by the constant fear of fraudulent activity.
If you’re the owner of a new online enterprise, managing fraud should be among your topmost priorities. While you can never be 100 percent safe, a good strategy will keep your business from becoming an easy target for criminals.
E-commerce fraud today
Before outlining what to do to protect your online store from fraud, it’s perhaps helpful to understand the current tactics that criminals use. Stolen credit cards and identity theft, the two earliest forms of e-commerce fraud, are unsurprisingly the most common today. However, recent years have seen new methods, …