“Shouldn't you be looking at other cars? You know, car shopping usually involves ... shopping."
"I don't shop very well", Grace said. "I just see what I need and get it.” (Maggie Stiefvater)
With every simple or complex profit gaining business, fraud comes into play. With E-commerce, fraud has taken a number of variable forms. In order to protect yourself from being looted by such fraudulents it is better you know certain tips to distinguish between fraud companies and realistic ones. These days’ banks are usually hit by recurrent cyber attacks and you should also take notice of saving your essential credit cards.
E-commerce frauds
Ecommerce frauds unlike other cyber crimes is pretty much easy all one needs is some financial information and ability to lie smartly. It has been known that fraud software developer Sift Science has revealed information about fraudulentsthat most frauds are achieved by those people who claims to be 85 plus and usually their shipping address is somewhere located in Alaska. They choose Alaska, as all the e-commerce companies readily ship products there also it is the first country in the location menu.
Merchants
With the increasing number of frauds, merchants are much careful in reviewing each and every order of the product made by the consumer and astonishingly almost one quarter of the orders are rejected as suspicious or are flagged as such.
Holiday season
It is predicted that during the holiday season the sales would set a record of $630.5 billion before the year ends. If one quarter of the sales would be fraud then it would become of pivotal importance to secure the e-commerce retailers rather than selling the products online as in 2009 $3.3 billion were theft due to fraudulent attempts.
Transactions
With the usage of card transactions, e-commerce frauds will be much reduceddue to chip card technology evolution. However, there are certain payments methods despite of card transactions which are more prone to E-commerce fraud but due to their augmented usage by the real consumers its usage cannot be swept off.
Security
A number of ways can aid the merchants in their scrutiny of E-commerce frauds. One being anapplication programming interface. The program thus designed, identifies the possibilities of the merchants’ enclosed information (as the billing address)to be fraud, scam or real by scanning various algorithms. This software, solution for all is available on cloud.
“Women usually love what they buy, yet hate two-thirds of what is in their closets.” (Mignon McLaughlin)
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