Businesses and ecommerce customers in South Africa have not been spared from the increasing trend of ecommerce fraud and hacking attacks. This increase in fraud cases has presented a challenge to business entities especially small scale ecommerce enterprises to put in place preventative measures. Here are some fraud and hacking prevention tips.
Employ an address and card verification system
One of the steps you must consider is to enable an address verification system (AVS) and require the card verification value (CVV) for credit card transactions to reduce fraudulent charges.
Apply behavioral profiling
You can identify anything suspicious online by monitoring behaviour of users, including any login requests or specific transactions. Other factors in behavioural profiling, such as age, location, and distance variables, can also reveal unusual activity well outside the norm of past transactions, indicating possible fraud or scripting attack.
Carefully choose payment methods
It is important to remember that not all payment methods are equal in terms of risk. Some payment methods tend to favour the cardholder in disputes. Others are relatively merchant friendly in disputes and have seller protection using shopper verification and other techniques.
Layer your security
One of the best ways to keep your business safe from cybercriminals is layering your security. Start with firewalls which is an essential aspect in stopping attackers before they can breach your network and gain access to your critical information. You can then consider adding extra layers of security to the website and applications such as contact forms, login boxes and search queries.
Set up system alerts for suspicious activity
Set an alert notice for multiple and suspicious transactions coming through from the same IP address. Similarly, set up system alerts for “multiple orders placed by the same person using different credit cards, phone numbers that are from markedly different areas than the billing address and orders where the recipient name is different than the card holder name.
Look for risky devices and IP addresses
Be aware of certain devices and IP addresses that have been involved in other attacks or those that have accessed multiple accounts from the same device.
The tips provided above if well implemented will tremendously improve your ecommerce security.