The battle of good versus evil is never-ending when you’re the owner of an e-commerce business. It seems like everyday hackers find a new way to go after businesses, no matter the size. There are no surefire ways to protect your business 100%, but if you take some of the precautions we at Humboldt Merchant Services have listed below, you could stave off the worst of the attacks.
Train your employees — Your employees are on the frontlines of many of these attacks, so they should be taught the do’s and don’ts of using and asking for personal customer information via any electronic communication. Have a set of written rules or policies that each employee must follow and reinforce the rules if an employee has a misstep.
Track all orders — It may cost a bit more than standard shipping, but be sure to ship all orders with a tracking number. Those numbers will give both you and your customer’s peace of mind. This will also help fight against chargeback fraud, or “friendly fraud.” Dailyfinance.com explains this as “Friendly fraud happens when a customer fraudulently reports to their financial institution that a charge on their credit card isn't legitimate; the customer will typically be refunded the money immediately, leaving the merchant on the hook for the cash.”
Amp up the passwords — Your customers can help you fight against fraud when you require them to create a strong password for their account on your site. The longer and more complex passwords are harder it will be for hackers to breach them.
Beep. Beep. Beep — Be sure to do full data back up regularly, some experts suggest at least two times per month. If an issue arises, you’ll be prepared to do a quick reinstall. Work with a data storage expert on a storage plan that will house the data securely.
Address and card verification — One of the quickest, and easiest ways to combat fraud is enabling a system that uses both and address verification system (AVS) and card verification value (CVV) for all credit card transactions. CVV is the three or four digit number typically following the account number, located on the signature panel on the backside of most credit and debit cards. AVS is especially helpful in preventing fraud when processing Mail Order Telephone Order (MOTO) transactions. This optional service helps protect against fraud by verifying the identity of the person claiming to own the payment card. The system will check the billing address of the payment card provided by the user with the address on file at the payment card company. Please note, AVS doesn’t guarantee that a transaction is valid.