In spite of increased vigilance and technological advancements, online merchants must recognize that fraud prevention is an ever-evolving process, with fraudsters adapting to your current methods like viruses to a disease.
Many merchants who are just starting to do business online believe they will be protected from fraud by the tools offered from the card associations. But the reality is while these tools provide some protection, they will not be enough to prevent sufficient fraud from occurring so that your business can stay open.
A good fraud prevention strategy is constantly evolving to stay ahead of the criminals – from implementing the latest fraud prevention tools and tactics, as well as fully training and equipping all staff members with the strongest possible policies and technologies.
Read blogs, newsletters, whitepapers, attend tradeshows and join LinkedIn groups and professional organizations like Merchant Risk Council to stay current with global ecommerce payments and risks.
Tabitha Stang is a fraud manager with cleverbridge.