Business Fraud Prevention
Fraud is on the rise. Are you surprised? According to the FBI, credit card fraud complaints increased 10% last year. Losses from said fraud increased 22%, with losses surpassing $12.5 billion. There’s no doubt that technology has leveled the playing field for cybercriminals.
AI and machine learning advancements have made it much easier for ambitious thieves to commit identity theft and credit card fraud. They can purchase consumer information on the dark web and use social media to create a pastiche of information—a sort of Frankenstein’s monster—for impersonating unaware consumers.
SMBs are particularly targeted for data breaches and cybercrime. Criminals know that SMBs may lack the resources that larger corporations can devote to cyber defense. Something as simple as a fraudulent email can become a Trojan Horse for a massive data breach.
Even the largest, most well-protected companies can fall prey to such schemes, as Target did in 2013. Can SMBs with less than 50 employees hope to fend off the ever-increasing onslaught of cyber-criminality, aided as it is by machine learning, AI, and cryptocurrency?
What about businesses that store customer credit card information for monthly payment processing? What about businesses with remote workforces? How can you tell a fraudulent, phishing email from a legitimate one? These are a few of the questions we’ll look at as we take a deeper dive into debit and credit card payments and fraud prevention.
Did you know that friendly fraud is also on the rise? This is a type of fraud where customers will misrepresent a transaction to take advantage of a legal landscape that favors consumer protection…but at what cost to businesses? Learn about how to avoid this type of fraud and others in our latest blog posts.
WooCommerce Fraud Prevention: How to Protect Your Online Store and Customers
WooCommerce Fraud Prevention is essential for protecting your business from costly chargebacks and lost trust. One incident of fraud can damage your reputation and customer confidence. Staying proactive is the only way to keep your store secure and your sales genuine.
The Impact of Payment Fraud on Small Businesses and How to Protect Yourself
Small businesses face growing risks of payment fraud due to advancing technology and increased online transactions. This threat can cause significant financial and reputational damage, but implementing best practices can help protect against it.
Advancements in Biometric Authentication for Payment Systems
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Digital Identity Verification and Payments
Digital identity verification enhances transaction security and streamlines KYC compliance by using advanced digital ID methods.
The Impact of Quantum Computing on Payment Security
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AI and Machine Learning in Fraud Detection
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Friendly Fraud: What Is It And How To Avoid It?
Friendly fraud does not involve third-party criminal activity. Rather, it occurs when a cardholder purposely or accidentally issues a chargeback.
Navigating Global Payment Regulations To Ensure Compliance
Accepting global payments can be challenging due to varying regulations. But, the potential rewards can be advantageous.
Fraud Management Solutions: Does Your Business Need One?
Layered fraud management solutions use various advanced methods to prevent fraud losses that can significantly affect businesses.
Corporate Transparency Act Of 2024: What Businesses Need to Know
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Remote Work Security: Challenges and Solutions
Remote work security is essential for businesses that have employees working outside of the workplace.
11 Ways to Prevent Data Breaches in Healthcare
Over the past 15 years, 360 million medical records were compromised. To prevent data breaches in healthcare, implement security measures & educate staff.
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HIPAA-compliant payment processing for healthcare facilities is crucial, ensuring secure, private, and legal transactions, safeguarding patient data and trust.
Protect Your Business Against Email Scams
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9 Tools to Protect Your Business from Credit Card Fraud
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Do I Need To Be PCI Compliant?
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POS Best Practices For Transaction Security
POS Best Practices For Transaction Security 1. Use The Most Up To Date POS Hardware 2. Do Not Leave Your POS Unattended 3. Monitor Activity.
What Does PCI Stand For and What Is PCI Compliance?
PCI compliance is when a merchant follows standardized regulations for credit card security put forth by the PCI Security Standards Council.
Everything Your Small Business Should Know About PCI Compliance
What is PCI Compliance? All things your small business needs to know about PCI compliance and how it affects you are answered here.
Are Credit Cards on File Payments Safe?
Keeping credit card information on file helps facilitate your cash flow. Avoid major data breaches and detrimental damage by utilizing a payment processor that protects your data.
Security Rules For Merchants At POS Terminals: PCI Compliance Requirements Explained
PCI Compliance Requirements Explained so you can feel confident in your payment processing security generating client trust and confidence in your brand.
Understanding CVV Codes and Credit Card Security
CVV codes are an excellent tool for preventing card-not-present fraud, but vigilance in protecting cardholder security is key.
How to: Secure Your Business With Two-Factor Authentication
Two-factor authentication is an extra layer of security that involves multiple authentication methods: knowledge, possession, and inherence
4 Steps to Take if You Are the Victim of Credit Card Fraud
Credit card fraud impacts both cardholders and business owners. Discover how and ways to protect and recover yourself if you’re a victim of fraud
How to Detect And Prevent Fraudulent Transactions
Discover key tools to prevent transaction fraud at your business, minimizing the risk that fraudulent transactions pose and their impact your business.
The Ultimate Point-of-Sale Security Guide All Businesses Need
Take the measures necessary to protect yourself and your customers with an all encompassing point-of-sale security checklist. A must read for all merchants.
What Every Merchant Should Know About Securing Credit Card Information
Are you protecting your business and customers with secure online transactions? Everything you need to know about protecting credit card information online.
Credit Card Fraud On The Rise: Is Your Business Protected?
Credit card fraud can severely wreck your personal credit and create a huge headache to clean up. We are offering advanced insight on fraud prevention.