How can you prevent something if youre not aware of it? The
answer is, you dont. Awareness is the first step to preventing fraud
online. While the majority of businesses and consumers use the Internet as
a tool, that same pool of companies and people may not know all the risks. This
is why online fraud has become such an epidemic in the US and is now even
gaining attention from the federal
government. Even if a company feels
they do not have the resources to prevent fraud, they must take the time to
educate themselves and their stakeholders on how they can prevent it. Time is
one of the most valuable resources a business can have for preventing fraud.
Now that businesses have spread their online presence from a simple website to social
media accounts, payment acceptance, and fully functioning application and
filing technology, there is a lot more to loseand a lot more to protect.
Banks and financial institutions have always been at the
center of the online fraud prevention movement because they were the first
industry associated with needing personal information. Now that all industries
have joined this trend, its time that everyone starts paying attention. In a
recent case study conducted by Bank Info Security, bank officials have shared
their knowledge about online
fraud prevention and the importance of education. Some key elements
discussed in this interview are fraud prevention training, the FFICE
guidelines, social media, and how other banks are implementing fraud
prevention measures.
Businesses and consumers are wise to pay close attention to
the risks that social media pose. What used to be a means of online
communication has now turned into one of the biggest aids to identity thieves all
over the world. Users and companies in this space significantly increase their
chances and risks with online fraud. By knowing the risks and assessing the
measures taken to prevent fraud, companies and consumers alike can protect
against Internet
fraud.
[Contributed by EVS Marketing]
