Friday 25 September 2020
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Two Anti-Fraud Techniques Successful Tech Companies Use

Two Anti-Fraud Techniques Successful Tech Companies Use

With the explosion of online business and the rapid growth of the tech world, it is getting harder and harder to keep up with the changes in the legal world, let alone the world of fraud. But today we are seeing a huge increase in online fraud to the extent that many websites are always on the search for better and more secure online payment methods to protect their customers.

While it is true that tech is developing stronger algorithms that are getting better at detecting fraud online, your best defense is always to begin with awareness and training. From teaching your employees how to recognize a fast smooth move from someone they are chatting with online while taking an order to creating simple but effective rules for your website’s shopping portals, you can cut down on credit card fraud on your website. If you are looking for some telltale hints that give the game away, we have a few you can watch for anytime you are checking out that next online order.

Strengthen Your Security

To begin with, you need to use all the tools you have available right now to make your site more secure. This includes little things like requiring that every order include that three-digit security code on the back of every credit card. It might seem like a small thing to ask for, but with criminals who simply have a list of credit card numbers they have bought from some other small time crook, this can be a very effective deterrent.

Especially if it is combined with a “three strikes and your out” security that won’t allow them to try to input that security code or the credit card number more than three times. These acts give away the fact you are dealing with a fraud from the start.

Check Those Addresses

One of the biggest giveaways that the order is a fraudulent one is when the order is marked to be expedited and the shipping address is a different one from the billing address for the credit card. This can be a big tip off and you can check it one step further. The website Zillow lists real estate and can tell you right away if that address you have for shipping is legitimate or not.

Often, they will use a shipping address of an old abandoned house or even one that exists but doesn’t have a building on it. The shipment will be intercepted before this gets obvious, so check it out first if in any doubt. Shipping addresses can also be verified by calling the card holder at the phone number on their account, not the one that called you in the first place.

I once had a call from a company asking me if I had ordered thousands of dollars worth of camping equipment to be shipped to a Maine address. The customer service person became suspicious when she saw my billing address was in California and called to confirm the order. Needless to say, we quickly set that arrest in order and the fraud was prevented thanks to that one quick thinking employee.