The 7 Types of Ecommerce Fraud Schemes You | BLOG Certified
Who knew there were so many ways for people to cheat and steal? As an ecommerce seller, there are multiple responsibilities juggled between you and your team -- sourcing product, quality control, customer service, SEO, HR. One of the tasks that is often overlooked, until it is too late and very costly, is fraud prevention. With the frequency of data breaches recently -- 1,253 reported breaches in 2017 alone -- stolen credit card data is readily available to cybercriminals. According to a recent Javelin study, $16 billion was lost to fraud last year. While the credit card companies identify and stop some of the credit card fraud that occurs, any fraudulent charge that slips through their fingers and makes its way to your website is your responsibility to stop. If you miss one, you will know about it, in the form of a fraud chargeback from your bank. Receiving even one chargeback hurts. Below are the top seven fraud schemes to be aware of to prevent the next fraud attack on your website: