Online E-commerce Fraud
Online fraud” could be described as illegal action done by some cyber-criminal on an internet website. It results in unauthorised or otherwise fraudulent transactions, stolen product, or wrongful asks for a refund.
In accord with the Association of Certified Fraud Examiners, almost 60 percent of on-line businesses become a victim of fraud in some time in their business lifecycle.Aside from phishing and hacking, if you accept a fraudulent payment, then you could take place economically accountable for the loss. Having to cope with a fraudulent transaction — the chargeback process, and the possible hit to your company’s reputation — is unpleasant.
Fortunately, there are steps you can take to minimize your risk and protect yourself and your clients from on-line scams.