Ways to prevent fraud

Ways to prevent fraud

Ways to prevent fraud from costing you money

As a merchant, you are responsible for preventing fraud on your online store. A research by the wall street journal published that fraudsters are constantly targeting online merchants. The number of online fraud related cases have increased over the past several years. This has cost merchants more than $16 billion. This means that as a merchant you will need to use certain countermeasures in order to prevent fraud from occurring on your e-commerce store. Your store could incur financial loses that will affect your business. There are some tactics that can help you and your store remain safe against fraudsters.  

Prevent Fraud through the use extra caution when addresses don’t match up.

One way to know that you are possibly about to be defrauded is if billing address and shipping address on the order does not match. This is actually true of most fraud-related cases. However, this is not always the case. Some buyers would ship to family members or work addresses. If the addresses do not match it would be wise to take a second look.

Prevent fraud by always examine the billing address prior to shipment.

There are some systems online that observe addresses. They are used to check orders against street address and zip codes. Even if this comes back clear you should take a good look where you are shipping the order. If the order is being shipped to an unfamiliar country you need to be very careful and do a background check on the customer. This will ensure that nothing looks suspicious.

Prevent fraud by performing a reverse lookup.

If you receive an order that looks shady you can always perform a reverse lookup on the phone number or billing address. This is as easy as entering the personal details of the customer on search engines such as Google.