Knowing and Understanding Your Fraud Prevention Solution

With the recent federal attention around cyber
, its no surprise that everyone is starting to take notice to this
pressing issue. Sen. Jay Rockefeller is pushing to get more guidance from the Security
and Exchange Commission (SEC), specifically about gaining insights about incidents
of cyber security
. One of his strongest points is that investors have no
perspective as to how much online fraud a company has experienced with the
current standards. With cyber
as a pressing issue for all stakeholders of all levels, having strong
and transparent online fraud prevention
is imperative to your companys success. Having official guidance for companies
would help make business safer and increase the visibility around Internet

Right now Sen. Rockefeller is fighting for more reporting
and filings of cyber-incidents to the SEC. How is this going to be beneficial? Its not
to punish or shun those who have been hit by online fraud of any type, but more
so to paint a picture. A picture that not only shows how much businesses are
relying on the Internet these days, but also how little they know about
protection. Companies had no hesitation about joining the digital age, but many
did not assess the risks fully before jumping in. This is one of the reasons
why the country is playing catch-up with supplying resources and solutions
for preventing online fraud
. The nation is taking cyber security as serious
issue, and so should businesses. By understand the risks and knowing that online
fraud preventable, businesses can start taking a proactive approach. Soon the
question will go beyond, Do you have a fraud prevention plan in place? to
What is your fraud prevention solution? Having an online fraud prevention
plan wont be enough. Companies will have to be ready to understand and explain
their fraud
prevention strategy
to stake holders and more. Its time that companies know
and understand fraud prevention just like any other aspect of their business. Are
you ready?

[Contributed by EVS Marketing]

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