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E-Fraud
- a growing menace |
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Compared to last year's $10.5 billion,
e-merchants have more to gain in terms of revenues, but also
more to lose when it comes to e-fraud. New data from Cyber Source
indicates while credit card information and most identities
are stolen in the offline World, often that information is used
in the online World to perpetuate fraud. Cyber Source concludes
business that sell online should employ good business practices
to help protect themselves and their customers against online
fraud. |
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E-Businesses Tips
to Fight Fraud :
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- Develop
and publish a comprehensive privacy policy.
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- Ensure
your employees are trained on the policy and follow it.
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- Monitor
the privacy policy and your compliance.
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- Only
ask customers for information that is absolutely necessary
to complete a transaction.
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- Store
only absolutely necessary data elements; once a payment
is complete, there is no reason to maintain payment information
in readable form.
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- Verify
the payment system that you implement deletes temporary
data files with payment records.
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- Make
certain server log files do not inadvertently store customer
payment information.
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- Limit
employee access to payment systems and monitor those who
have access to sensitive data or payment systems.
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- Use
technology tuned for the Internet to detect potential fraud.
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- Follow
up on suspicious transactions and immediately report any
security breach or loss of computer systems to police.
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