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How to protect your e-commerce business from fraud

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Since the onset of the pandemic online fraud has become more prevalent than ever. In fact, according to AusPayNet, ‘card-not-present’ (CNP) fraud now represents almost 85% of all card fraud, costing the e-commerce industry close to half a billion dollars each year.

For business owners who deal with online transactions every day this fact can seem concerning and overwhelming. However, luckily, there are many ways to mitigate the risks associated with e-commerce fraud.  

Types of online fraud

 While businesses both nationally and globally have reported an increase in fraud since COVID-19, those who’ve implemented fraud prevention strategies experienced a reduction in incidents, response costs and penalties as a result of fraud. So, how can you ensure your e-commerce business does the same?

The first step is gaining an awareness of the common online scams that could pose a threat to your business. Here are a…

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