Ecommerce Fraud Protection: 3 Steps toward a Safer Magento Store and a Secure Shopping Experience

It’s not uncommon for online retailers to face brute-force attacks often. Like physical stores are vulnerable to thieves and crooks, e-retailers too have their fair share of fraudsters and hackers stealing sensitive credit card details and other confidential information from their ecommerce sites.

With advanced hacking and phishing tools and software galore on the web to fetch sensitive information like banking credentials and user passwords, swindlers and hackers, today, don’t necessarily require any additional skill or resources to perform fraudulent transactions.

While fraudsters are getting more advanced and tech savvy enough to mask their identity, it’s high time that retailers take on effective risk management practices to identify fraud and protect their business while delivering secure customer experiences.

In addition, mentioned below are three operational ways to deal with fraud and prevent damage caused by unethical fraudulent activities.

Evaluation and Proxy Detection

A proven technique to instantly identify fraud, proxy detection service performs a real time analysis of anonymous IP addresses to evaluate orders for fraud transactions. Alternatively, retailers can perform a web search for the suspected IP address alongside keyword “proxy”, which will identify if the address exists as a current proxy on any public warning lists.

PCI Compliance

Another good practice to lessen your ecommerce store’s vulnerability to hacking and phishing attempts is to ensure your online store is PCI compliant. Performing data security scans on a regular basis to ensure your compliance with PCI standards can save you a lot of money and business loss. Those using Magento as their ecommerce platform, must stay updated with the latest version. The software consistently roll out updates including security enhancements that can help fix security issues and improve customer experience.

Seek Expert Help

As mentioned earlier, hackers and fraudsters are quite technologically smart. They can cost your business a lot of financial and proprietorial damage before you could even detect. Having a third party expert by your side can help minimise the risk and even prevent fraud from happening.

Moreover, it is important for ecommerce owners to know that not all Magento experts specialise in Magento security practices. So, before you hire one, make sure that professional is well acquainted with particulars of Magneto store security and can efficiently use their expertise to enhance security around your store.

Needless to mention, there are numerous fraud control techniques and practices on the internet apart from the three mentioned above. As an e-retailer, it’s your responsibility to implement such practices in order to not just combat fraud but provide your customers with a safe shopping experience, the kind that motivates them to keep coming for more.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s