Proactive Online Fraud Protection that Builds Consumer Trust
The unprecedented growth of electronic communication networks has facilitated the increase of e-commerce market. Today consumers can sit in the comfort of their homes or office and make online purchases. Such facilities for e commerce transactions have also created a number of opportunities for the growth of online frauds attacks. Global enterprises also face the problem of grey market sales and counterfeits.
The number of online fraud attacks looming large over financial institutions and retailers offering online services, threaten the brand and reputation of the organization besides loosing the confidence of the customers. The fraudsters make use of various techniques to extract critical personal and corporate information from the database. To mitigate such attacks organizations need to be well equipped with latest online fraud protection methods. Such anti-fraud solutions include a combination of various measures, which also includes fraudulent email detection, computer security assessment, blocking and educating the consumer.
Online frauds such as copyright and patent theft, identity theft are quite frustrating and financially taxing on the enterprises and the consumers alike. Pharmaceutical industries, luxury goods and cosmetic industry are some of the major industries that face the flak due to sale of counterfeits products. The electronic industry along with the cosmetic and luxury goods industry are also the ones which face the brunt of online frauds and counterfeit items. Since these industries thrive well in the e-commerce trade, cyber criminals in their attempt to make maximum profits tend to ruin the brand name and reputation. Organizations thus need to work out ways and means to prevent internet frauds.
Most of the companies today that have entered the world of e-commerce and have made their presence felt worldwide, are struggling to bring in preventive measures in key areas of enterprise risk management. This would help them protect their products and services from counterfeits, online fraud , grey market and also channel price violations. Further, business houses and enforcement agencies have also used anti-counterfeiting tools such as Sales Intelligence and MAP monitor to protect brand names.
However, to initiate activities towards online fraud protection, organizations need to deploy effective fraud detection systems. Further, to ensure that the products and services have an online fraud protectioncovering; organizations need to have proactive solutions in place.
Service providers today have worked out effective online fraud protection solutions for their client organization. The comprehensive SaaS-based solution can monitor large number of sites and provide enterprises with unmatched visibility into counterfeit actions in the global market. This facilitates organizations to automatically enforce protective measures and even auction site shutdown, ensuring consumers of effective online fraud protectionand gaining their confidence.
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