Fraud poses one of the biggest threats to online businesses. With every successful fraudulent purchase, your business experiences a series of losses.
Ecommerce fraud costs businesses in lost merchandise, lost shipping fees, losses to potential chargeback and monitoring fees, and the devastating loss of consumer trust.
The problem? Balancing fraud prevention with order approvals isn’t a simple task — and can’t be resolved by flipping a switch.
Fraud tactics are always evolving, and fraudsters are constantly coming up with new schemes. From stolen consumer data to online fraud tutorials to bots programmed to perpetrate fraud on a grand scale, there seems to be no end to fraudsters’ creativity.
That makes it even more vital that businesses have the tools and strategies in place to recognize fraud patterns and trends, so they can stop fraudsters in their tracks.
Related Topics
Why is it important to fight fraud?
Related Resources
State of Consumer Attitudes on Ecommerce, Fraud & CX 2021
Monitoring Social Media for Fraud
What It Means to Have a High-Risk Merchant Account
How Fraud Prevention Changes as Businesses Grow