Merchant Services: Online Fraud Prevention, Part 2

Phishing

Phishing has become of the more recent online frauds that have surfaced. The way phishing works is that an e-mail is sent from a notable company saying that there is a problem with the recipients account. They are asked to go to a specific URL and confirm the information. When the recipient goes to the website, it is a spoof site which looks legitimate, but goes to a fake site. If the recipient puts in their information, it does not go to the company, but instead goes to a criminal who can use the personal information for identity theft.

Credit Card Fraud

With the increase in the amount of online shopping being done today, one of the biggest fraudulent concerns is credit card fraud. There are several ways that shoppers are at risk of being a victim of credit card fraud. They include sending information through insecure connections, sending information to fake websites, listing personal and credit card information on insecure forms and having credit card information stolen and compromised at the merchants servers. One way to protect yourself is to only use well-known websites for buying merchandise and ensure that if you are putting your personal financial information on a website, it is a secure connection.

Prevention Resources

The best way to prevent being a victim of online fraud is by using common sense. If an offer sounds too good to be true, generally it is. Also, be cautious of providing any personal identification data online. Legitimate companies will not randomly ask for information from clients. If you have a doubt about an e-mail you received from a company, give them a call to confirm that it is legitimate. And, if you are transmitting personal information online, make sure that it is a secure connection. These are simple tips, but they will help keep your personal financial information safe and secure.

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Online Fraud Prevention, Part 1

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