Every day, we hear more and more about credit card fraud, which is causing major problems for online businesses. Cybercriminals not only steal money from internet businesses, but their actions can also entirely destroy a company’s brand. So, if you run an online business, you might want to consider spending some time and money to protect yourself from credit card theft. And if you’re not sure how to accomplish it, here are 4 Ways to Protect Your Online Business Credit Card Scams.
4 Ways to Protect Your Online Business Credit Card Scams
These four (4) ways have been put to test and they worked incredibly.
1. Keeping track of your clients’ whereabouts
When trying to safeguard your business from credit card theft, one of the first things you should do is start tracking your customers’ IP addresses. This way, you’ll be able to see if there have been any substantial changes in location.
Of course, just because you observe a change doesn’t guarantee you’ve been a victim of fraud; after all, a consumer can always shop from a new location or relocate.
You shouldn’t be overly protective in instances like this since your consumers may begin to believe you don’t trust them, which is never a good thing. For people who don’t shop at their customary location, a simple additional step of verification is more than enough.
2. Locate proxy servers
We’ve discussed how to trace your customers’ IP addresses, but that may not always be enough to protect you from scammers. These hackers may choose to hide their true location by using an anonymous proxy server. Let’s imagine a fraudster from Brazil wants to buy something from you with a stolen credit card that has a New York billing address.
They’ll use a proxy to mask their true IP address and replace it with one that looks to originate in New York. This usually works since the IP address they use matches the billing address’s location. Fortunately, there are free websites that you may use to see if a certain IP address is hiding behind a proxy. It might be a good idea to consult these whenever you suspect something.
3. Achieve PCI DSS compliance
Another excellent strategy to protect your online business from credit card fraud is to adhere to the PCI DSS. This acronym stands for “Payment Card Industry Data Security Standard,” which is a data security standard for businesses that process credit cards. To comply with the PCI DSS, you’ll need to follow a variety of strategies and processes to keep your online business safe.
This includes topics like network security and card security. It’s critical to invest in network security because you’ll need effective anti-malware software to keep scammers at bay.
Another intriguing possibility is tokenization, which involves replacing your data with a token that hackers can’t use.
4. Keep up with the latest credit card scams
Credit card fraud is a common occurrence, as we’ve already mentioned. So, in addition to defending your online business from these threats, you might want to keep up with the most recent credit card thefts.
That way, you’ll be aware of what hackers are up to and what you can do to keep them away from your internet business. Not only should you be cautious of card, number, and identity thefts, but also ransomware and invoicing frauds. Hackers are getting more hazardous all the time, and we have no idea what they’ll come up with next.
While there are many things you’ll need to do to keep your internet business viable, one of the most significant goals you’ll need to establish is preventing credit card fraud. If you fail to do so, you risk losing money and having your reputation tarnished.