Fraud and crimes of an economic nature are the order of the day. Its prevention is the great challenge of most companies. TransUnion in their latest study “Global Digital Fraud Trends” indicates that, in 2021, crimes of impersonation of companies and brands on the Internet grew by 165.7%.
And it is that, criminals find on the web a ideal place in which to impersonate the identity of companies and/or brands to benefit from their success, leaving affected companies with serious repercussions. PwC data reveals that 47% of companies worldwide have suffered online fraud in the last 24 months.
And it is that, the exponential growth that e-commerce has experienced in recent years has attracted hackers and organized crime gangs. Alice Casolo, XChannel marketing strategist warns “Thanks to chat portals, the deep web and cryptocurrencies, data breach specialists can create false identifications, coordinate and carry out criminal transactions with worrying ease.”
What is the entry point for cybercriminals? The vast majority of these criminals are taking advantage of digitization and great technological deployments of large and not so large companies. Digital platforms such as electronic business, social networks, etc. They open the door to being victims of identity theft and economic crimes.
E-commerce owners can detect flaws in their security structure before cybercriminals discover it and attack. How? From XChannel, specialists in marketing, cross-channel and marketplaces share 4 tips to prevent being a victim of these frauds.
1. Run Website Security Audits Regularly
In these audits, Davide Gazzardi, head of New Business at XChannel, recommends “confirm if passwords used for admin accounts, hosting control panels, CMS, database and FTP access are secure enough, confirm if website detects any malware, identify if communication between the store-customers-suppliers is properly encrypted…”.
2. Ensure that e-commerce complies with PCI regulations
The PCI regulation was born in response to the increasing data theft. It establishes a basic level of protection for consumers, reducing fraud within the payment ecosystem. Every organization that accepts or processes payment cards must apply it. Alice Casolo, XChannel Marketing Strategist explains that, “The aim of the regulations is to ensure that all merchants accept, process, store and transmit credit card information in a way that minimizes the risk of fraud, data breaches and data theft”.
3. Use anti-fraud solutions
Today we can find a multitude of fraud prevention software solutions on the market. These tools vary greatly depending on the amount of work involved in installation and ongoing management. Some companies prefer practical solutions, while others prefer to leave them in the hands of experts. Alice Casolo, marketing strategist at XChannel, recommends the high level anti-fraud tools, “Although there are more basic anti-fraud tools, I always recommend using the high-end ones, which offer outsourced case management, loyalty fraud management, automated decisions, manual review of suspicious transactions…”.
4. Store as little data as possible
An effective way to protect an e-commerce in case of being victims of a leak or a hack is not to collect a lot of information about our transactions and customers. Davide Gazzardi, head of XChannel’s New Business, explains that, by collecting little data, we are obeying a simple logic that protects us against cyberattacks “you can’t steal what you don’t have.”
