Posts Tagged ‘fraud prevention’
5 Fraud Prevention Tips for SMBs
If you’re a small ecommerce business owner looking to expand your fraud prevention footprint, you’re not alone. According to the MRC’s 2023 Global Payments and Fraud Report, small to mid-size businesses (SMBs) doubled their fraud prevention spending from 2022 to 2023. Year-over-year tracking shows that increased spending on fraud prevention correlates to decreased fraud indicators…
Read More5 Reasons Why You Should Hire an Outsourced Fraud Team
Your online business has a fraud problem. Now what? You have a few options for tackling ecommerce fraud. You could build an in-house fraud prevention team… but those expenses can add up quickly and the onboarding process can take months. You could go fully automated with one of the many off-the-shelf fraud management systems… but…
Read MoreTraining an Effective Manual Review Team
On September 26, 1983, human intuition may have saved the world. Stanislav Petrov, a Soviet Lieutenant Colonel, fielded an automated nuclear missile early warning system alert. The alarm described the launch of not one, but five, ballistic missiles supposedly originating from the United States. At the time, the retaliation protocols for the Soviets required multiple…
Read More5 More Reasons You Need a Human Intelligence Team
If your business has a fraud problem, you could benefit from bringing on an experienced human intelligence team as part of your fraud prevention infrastructure. We talked in a previous post about five ways this could benefit you. Now we’re going to talk about five more. They build their own tools. There are many tools…
Read More5 Tips for Tackling Subscription Fraud and Abuse
Finding a product you love can be tough in today’s crowded consumer market, but once you find the perfect thing, why not get it again and again? That’s the beauty of the subscription: allowing customers who love your products and services to use them repeatedly in the most convenient way possible. If your business offers…
Read MoreSpear Phishing, Whaling, and CEO Fraud – The Alarming Threat of Social Engineering
Phishing is an ongoing danger to internet users, one we’ve talked about several times on this blog (here and here, to mention a few). But in the past few years, phishing scams have become even more of a threat as the digital landscape has evolved and bad actors have become more sophisticated. Social engineering poses…
Read MoreLoyalty Program Abuse and Fraud
It’s a competitive landscape out there in the ecommerce retail world. As more and more businesses focus on online expansion, from established brick-and-mortar stores to new online-only retailers, the options available to customers keeps increasing. This can make it difficult for ecommerce merchants to gain and keep customers. According to the Salesforce Connected Shoppers Report,…
Read MoreFraudsters in the Marketplace: Fraud Prevention Basics for Ecommerce Marketplaces
When you start an ecommerce business, one of the first decisions you make is where to sell your products: on an ecommerce platform or on an ecommerce marketplace. A platform – an independent website or app – is owned and operated by a merchant to sell their products directly to customers. A marketplace, on the…
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