If everyone was given a Ferrari and a lifetime supply of food, crime rates would probably drop drastically. Unfortunately, we're far away from that situation, and so eCommerce professionals are very concerned about fraud this holiday season.
According to a survey conducted by 41st Parameter and the Merchant Risk Council, "84% of respondents indicated they anticipate a slight or substantial increase in fraudulent activity." Even allowing for the difference between "slight" and "substantial" - and for the fact that 41st Parameter works in the field of fraud intervention - this is unnerving.
The results seem to say that, if a small business with its fingers in eCommerce isn't worried about fraud, it should be. And so it may really be time to investigate fraud protection measures, even if they cost a little money.
Another option is to just close all the cracks you can on your own. A policy of not shipping items until payments clear isn't so bad, for example. Or an eBay seller could institute a new policy about acceptable levels of buyer feedback (although anyone who wants to attract new customers would need to be careful about this).
We'd love to hear what you guys have to say on the matter. Otherwise, to all who celebrate it: have a happy Thanksgiving!
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Comments
I agree...
I couldn't agree more. I've already had someone try to make a purchase on my safety and security web site using stolen credit card information. Since then, I always make sure the shipping address and the credit card address are the same and if they're not, I call the card holder to make sure they actually made the purchase.
I also call the card holder for large orders that look suspicious. They seem to appreciate this extra level of security.
Thanks, Doug, for this article.
Fraud Protection Measures, please
You say it may "be time to investigate fraud protection measures" - my clients have been looking for something like this. Got any suggestions, anyone?
it's always a concern,
it's always a concern, that's why sometimes its better to use a 3rd party software
Peter Roesler
President florida web design company
great post. its a huge
great post. its a huge concern using 3rd party software as well though.
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