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How can I protect myself from fraud online?
According to figures, U.S. businesses alone lost more than $500 million (USD) to Internet fraud in 2003. To help you prevent your company from becoming the victim of online fraud, there are several preventative measures within your ShoppingCart system that you can take advantage of. They are:
CVV2 Support - You can turn on the credit card CCV2 support. This will require that your customers enter their credit card security number on the order form. This measure will help to ensure that fraudulent orders are more likely to be declined.
Security Image Verification – Script fraud is a common
type of Internet fraud and occurs when an individual
has created a software program that places orders online
using randomly generated credit card information. The
security image verification feature has become an internet
standard method to combat this type of fraud. Essentially,
this measure consists of an image of random characters
that your clients will need to re-enter in a field as
they see them. A computer program cannot read the characters
in the image and cannot therefore place an order.
Duplicate Order Filtering - You may define an amount of time where duplicate orders will be treated as an update rather than a new order. A duplicate order is any order for the same total with the same credit card and email address that is placed within the time frame that you specify. As a default the system is set to 24 hours.
IP Blocking - You have the ability to block any IP address that you feel is placing fraudulent orders with your business. You can do this from the order details page (just click on the client’s name in your ‘Orders’ list to open this page) and then you’ll see a ‘block IP’ link in red to the right of the IP address. You can also block IP’s, and control this module, from the ‘IP Block List’ page.
Where can you find the first three fraud protection measures? Just click on ‘Cart Setup’ in the main menu of your account (down the left hand side of the screen), then click on the ‘Advanced’ option in the submenu below this.
Again, the ‘IP Block List’ page can be opened from below the ‘Orders’ button on the main menu of your account.
You might also check with your Online Gateway (Credit Card Processor) to see what additional Fraud Protection options they offer.
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