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How To Prevent eCommerce Fraud

While it’s not possible to protect yourself against all online threats, below are some of the most common types of eCommerce fraud – plus tips on how to help minimize exposure.

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4 Proactive Security Measures Your Online Business Needs

There are anonymous hackers all over the globe who work around the clock trying to bypass your company’s security defenses. Larger organizations likely have the resources to defend themselves against eCommerce fraud and other malicious attacks, but this doesn’t mean they’re immune to breaches, as we’ve witnessed in the news.

This isn’t always true for smaller companies. Inc. reports that an estimated 60% of small businesses go under within six months of being breached.

While it’s not possible to protect yourself against all online threats, below are some of the most common types of eCommerce fraud – plus tips on how to help minimize exposure.

1. Card testing fraud

Criminals often test stolen cards by running tiny transactions first. While it may be attractive to overlook a few lost pennies here and there, every dollar in direct theft can translate up to $3 in hidden costs due to fees and penalties.2

Protect yourself by using fraud management filters to set minimum transaction amounts for online orders. If your lowest-priced item is $2, the smallest approved transaction should be that amount or higher.

2. Stolen credit card fraud

If you sell physical goods, watch for this scam. Thieves use stolen cards to buy products before having them sent to a reshipper for collection. However, using fraud filters can help you flag orders where the billing and shipping addresses don’t match. The sale might be a legitimate one, but it won’t go through until you’ve had time to investigate.

Security is a major business objective

3. Account takeover fraud

Cybercriminals can do a lot of harm if they gain access to your customers’ or employees’ login credentials. Fortunately, you can help limit this practice by:

  • Restricting employee access to sensitive data on a need-to-know basis (also known as the principle of least privilege)
  • Mandating longer passwords for all logins – complete with symbols, numbers, and mixed-case letters
  • Requiring two-factor authentication (2FA) in which employees and customers must pass additional verification steps (beyond the usual username and password)

4. Chargeback fraud

Also known as “friendly” fraud, this scam involves customers who buy from you online pretending that:

  • They didn’t place the order
  • The package never arrived.
  • The package arrived damaged.

Proving that you’re in the right can be tough, which is why chargeback fraud results in $30 billion in annual losses for online businesses. You can help reduce the frequency of this scam by:

  • Making it easier for customers to request refunds with a clear return policy
  • You are adding tracking and signature requirements to outgoing packages so you can verify delivery independently.
  • Disabling guest checkout to make anonymous online ordering impossible

Even with a huge budget and an experienced security team, thwarting every cyberattack is not always possible. It is figuratively an arms race, with criminals constantly devising more inventive methods of bypassing security protocols and gaining access to sensitive information. However, those who build the strongest defenses have the best chances of avoiding the worst attacks.

For a more comprehensive overview of eCommerce fraud prevention tips and strategies, see the accompanying resource.

This information is provided for informational purposes only and should not be construed as legal, financial, or tax advice. Readers should contact their attorneys, financial advisors, or tax professionals to obtain guidance concerning any particular matter.

  1. “60 Percent of Small Businesses Fold Within 6 Months of a Cyber Attack. Here’s How to Protect Yourself,” Inc., 7 May 2018
  2. “CNP Fraud Costs US Merchants $3.36 for Every $1 of Direct Fraud Loss,” CardNotPresent, 30 July 2020
  3. “13 Scary Chargeback Facts,” Chargebacks911, 20 October 2020

How To Prevent eCommerce Fraud

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E-commerce

Key To Selecting The Best Beds For Your Dog

It is necessary to view all of these factors while deciding on the ideal bedding for your cat. Also, think if a cozy inside dog bed or a weatherproof outdoor dog bed is more important to you.

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Key To Selecting The Best Beds For Your Dog

In terms of sleeping, dogs, like people, have their preferences. And those desires and demands for comfort aren’t one-size-fits-all. They, too, evolve through time, just like you. To pick the best dog bed for the pet, you need to consider the species, maturity, weight, hair, and preferences of your pet.

It is necessary to view all of these factors while deciding on the ideal bedding for your cat. Also, think if a cozy inside dog bed or a weatherproof outdoor dog bed is more important to you.

1. To fill your dog’s bedding.

Large dog beds with loose fill, such as those made of foamy shredding, granules, and similar soft materials, are simple to come by. These are normally the cheapest to purchase, but they will cost more in the long run because of their rapid degradation and the continual need to be cleaned. This kind of mattress is difficult to clean, and the contents will decompose at a rapid rate.

When the filling begins to move, flatten, or shrink, the mattress’s useable area, which is the most comfortable section of the bed, will reduce significantly, and your dog will find the bed uncomfortable. At this point, it’s too tiny for your dog as well. A higher-quality dog bed will outlive numerous lower-quality ones, so spending more money upfront is best.

Memory foam dog beds are more durable than other materials, such as polyurethane foam. Washable covers are common on these mattresses, and some are made with anti-bacterial and “stay-clean” coverings, making it a breeze to maintain them hygienic.

2. In-store vs. Online pet shop

Nowadays, buying dog beds online is faster, more convenient, and less expensive than going to a pet shop. If you shop for dog-beds in Australia, most of the time, an excellent set of instructions will be provided by the provider to help you choose the right bed for your dog. To support you in your decision-making process, some will also provide FAQs, quizzes, and guidelines.

If you have enough assistance, making your dog bed is simple and frequently cheaper than purchasing one from a pet shop. To top it all off, you’ll have access to a wide variety to choose from, rather than being limited to a few options.

How can you know whether a bed is right for your dog or cat in the pet shop or the department store? What gives you the right to judge whether or not such mattresses are comfortable? To begin, make sure to have a measuring tape to measure any potential beds accurately. When in suspicion, go for the larger size as a general rule. Many dog owners misjudge how much room their pet needs to feel at ease in their home.

3. Decide on a location for your dog’s bed.

Before you buy a dog bed, look around your house to see where you’ll put it when it arrives. Are there any good spots near your couch? Is there a spot in your kitchen that’s not been taken? What about your bedroom? Is there enough place for a dresser in there? Before bringing your dog’s bed into your home, you should locate a spot for it.

In this manner, you won’t end up with anything that doesn’t fit or doesn’t look good because it’s too large or too little. Additionally, you’ll be able to purchase a bed that complements your other furnishings when you go this route.

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