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4 Ways To Protect Your Online Business From Credit Card Fraud - Business - Nairaland

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4 Ways To Protect Your Online Business From Credit Card Fraud by Busolami2015(f): 12:41pm On Dec 08, 2017
Every day we keep hearing more and more about credit card frauds that cause online businesses huge troubles. Not only that cybercriminals steal money from online businesses but their wrongdoings can completely ruin a company’s reputation. So, if you’re running an online business, you might want to think about investing some money and effort in protecting your company from credit card fraud. And if you’re wondering how to do this, here are four ways that are guaranteed to do the trick.



Tracking the location of your customers

One of the first things you should do when trying to protect your business from credit card fraud is start tracking your customers’ IP addresses. This way, you’ll be able to notice if there any significant changes of location have been made. Of course, even if you notice a change has been made, it doesn’t mean you’ve been a victim of a fraud, since a customer of yours can always decide to shop from a different location or relocate. In situations like this, you shouldn’t be overly protective, as your customers will start thinking you don’t trust them which is never a good thing. A simple additional step of verification for those who don’t shop from their usual location is more than enough.

Identify proxy servers
We’ve talked about tracking your customers’ IP addresses but that may not always be enough to keep you safe from fraudsters. These cybercriminals might decide to use an anonymous proxy server in order to keep their real location secret. For example, let’s say a fraudster from Brazil wants to buy something from you using a stolen credit card with a billing address in New York. They’ll use a proxy to hide their real IP address and use one that appears to have come from New York. This tends to work simply because the IP address they use matches the location on the billing address. Luckily, there are free websites you can use to check whether or not a given IP is hiding behind a proxy. It might be a good idea to turn to these every time you notice something suspicious.



Achieve PCI DSS compliance
Another great way to keep your online business safe from credit card fraud is to make sure you’re following PCI DSS. This is short for “Payment Card Industry Data Security Standard” and can be defined as an information security standard for companies that handle credit cards. In order to achieve PCI DSS compliance, you’ll need to follow a whole range of methods and protocols for keeping your online business safe. This includes things such as network protection and card safety. Investing in network protection is extremely important since you need a good anti-malware software that’s going to keep fraudsters at bay. Tokenization is another interesting option, as it includes replacing your data with a token that hackers have no use of.





Stay updated on credit card frauds
We’ve already mentioned that credit card frauds tend to happen quite often. So, besides protecting your online business from these you might want to stay updated on the latest credit card frauds that have taken place. That way, you’ll know what hackers are up to and what you can do to prevent them from targeting your online business. And don’t just keep an eye on card, number and identity frauds but stay aware of ransomware and invoice frauds as well. Hackers are constantly becoming more dangerous and we can’t possibly imagine what they’re going to come up with next.

While there are so many things you’ll have to do to keep your online business afloat, one of the most important goals you’ll need to set is protecting your business from credit card fraud. Fail to do this, and you might end up losing money and having your reputation tainted.
Source : https://techcribng.com/4-ways-to-protect-your-online-business-from-credit-card-fraud/

5 Likes 1 Share

Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Busolami2015(f): 12:43pm On Dec 08, 2017
What do you think?.

As the year is going to an end , we need to be careful of what will do..

Lalasticlala , Mynd44 pls save us all and do the need full.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by teekay213(m): 12:47pm On Dec 08, 2017
Change your password every week/day.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Busolami2015(f): 12:49pm On Dec 08, 2017
teekay213:
Change your password every week/day.
Everybody knows that, But you should know it's not easy as you think.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by teekay213(m): 12:53pm On Dec 08, 2017
Busolami2015:

Everybody knows that, But you should know it's not easy as you think.
then losing money should be easier
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Busolami2015(f): 12:55pm On Dec 08, 2017
teekay213:
then losing money should be easier
I understand your point but Change your password everyweek might not save you from these digital age.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by baseg25(m): 1:19pm On Dec 08, 2017
Nice post .. this Deserve the fp..

cc Lalasticlala
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Heywhizzy(m): 4:06pm On Dec 08, 2017
this op na novice.. any serious scammer anticipates all this and manipulates his details accordingly

2 Likes

Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by kay29000(m): 4:06pm On Dec 08, 2017
Okay.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by tayo200(m): 4:09pm On Dec 08, 2017
the taxi driver was too fast...he caused the accident..
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by dayleke: 4:10pm On Dec 08, 2017
Waya Waya no pay o...

Wire Wire no pay o...

Be truthful to yourself.

Nice one OP.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Webman007: 4:11pm On Dec 08, 2017
Good post
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Nobody: 4:11pm On Dec 08, 2017
Stay away from Dammy Train.

2 Likes

Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Colybaly: 4:11pm On Dec 08, 2017
Ok

1 Like

Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by 1Nairaboy(m): 4:15pm On Dec 08, 2017
Exactly wat d banks shld b doing for their customers - ll b hard to monitor one customer tlk less of several customer
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by NE555: 4:16pm On Dec 08, 2017
WOW!!! very informative
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by paranorman(m): 4:17pm On Dec 08, 2017
Follow your instincts if you feel something is wrong. Always opt for multi-factor authentication schemes where possible.

On the customer side, beware of social engineering attacks which, statistically, has been the most successful.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Jsoft01(m): 4:19pm On Dec 08, 2017
Insightful..
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by paranorman(m): 4:23pm On Dec 08, 2017
1Nairaboy:
Exactly wat d banks shld b doing for their customers - ll b hard to monitor one customer tlk less of several customer

They have professionals that do auditing and accounting for them, security-wise. Every remote/online transactions are monitored or tracked. Most times, security professionals only audit your activities when fraud is reported. Automation is another thing; for example, ATM card is blocked or siezed when you enter wrong pins thrice or of expired.

There are industry standards, talking configuration baseline and application hardening.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by Nobody: 4:33pm On Dec 08, 2017
Op you try but I will score you 0% go and learn about carding.. Amazon, Walmart, Target . They card it successful.. So please say something else.

1 Like

Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by 1Nairaboy(m): 4:38pm On Dec 08, 2017
paranorman:


They have professionals that do auditing and accounting for them, security-wise. Every remote/online transactions are monitored or tracked. Most times, security professionals only audit your activities when fraud is reported. Automation is another thing; for example, ATM card is blocked or siezed when you enter wrong pins thrice or of expired.

There are industry standards, talking configuration baseline and application hardening.
Wow dats Okay! - haha I forgot d black hackers re RATS
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by slapandfall(m): 4:55pm On Dec 08, 2017
Credit card Fraud...

For merchants, ensure your Online Payment Integration is on the 3D secure: For this, liability shifts to the cardholder.
This is the first escape route to merchants.

As for PCI certification, this is only neccessary if you will be storing card details or card details will be entered directly on your site. However, if you are integrating to a 3rd Party payment gateway, you don't need the PCI-DSS certification because you are not in the PCI scope.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by slapandfall(m): 4:55pm On Dec 08, 2017
Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.Read up.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by tripoli007(m): 5:24pm On Dec 08, 2017
That doesn't stop DAMMY krane and other Afonjas from carrying out there credit card fraud
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by chloride6: 6:03pm On Dec 08, 2017
slapandfall:
Credit card Fraud...

For merchants, ensure your Online Payment Integration is on the 3D secure: For this, liability shifts to the cardholder.
This is the first escape route to merchants.

As for PCI certification, this is only neccessary if you will be storing card details or card details will be entered directly on your site. However, if you are integrating to a 3rd Party payment gateway, you don't need the PCI-DSS certification because you are not in the PCI scope.


3DS doesn't not allow for automatic payments..
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by slapandfall(m): 7:26pm On Dec 08, 2017
chloride6:


3DS doesn't not allow for automatic payments..

What are you saying sef?
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by chloride6: 7:28pm On Dec 08, 2017
slapandfall:


What are you saying sef?

I mean allowing you to automatically deduct from your card balance each month or week as the case maybe.
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by fajob: 7:28pm On Dec 08, 2017
ok
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by slapandfall(m): 8:58pm On Dec 08, 2017
chloride6:


I mean allowing you to automatically deduct from your card balance each month or week as the case maybe.

You don't understand epayments.
Sorry I will not be able to start explaining
Re: 4 Ways To Protect Your Online Business From Credit Card Fraud by IamShiningStar(f): 12:40am On Dec 09, 2017
OK

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