Posts Tagged ‘Fraud’
Payments Fraud: Risks, Impact, and How to Protect Your Business
Payments fraud is one of the most persistent threats in today’s digital economy. As businesses adopt faster, more convenient payment technologies, cybercriminals are evolving just as quickly—creating a constant game of cat and mouse. From phishing scams to synthetic identity fraud, the payments industry faces growing risks that can result in significant financial losses, damaged…
Read MoreTop Strategies for Protecting Your Business Against Fraud
As technology evolves, business activities are becoming more and more digitized. While that can certainly help streamline operations, it also presents a unique threat to small business owners. According to a recent report from the Identity Theft Resource Center, more than 80% of small businesses were the victim of a cyberattack, data breach or both…
Read MoreWhy You Should Freeze Your Credit Right Now
If you’ve been considering a credit freeze, now is the time to act. This free process is designed to prevent creditors from accessing your credit report unless you explicitly authorize it. This effectively blocks potential creditors from viewing or pulling your file, making it significantly more difficult for identity thieves to apply for new credit…
Read MoreWhat is Accounts Payable Fraud and How Can Businesses Prevent It?
As if there wasn’t enough to worry about when running a business, you also need to constantly monitor your payments to ensure no one is trying to defraud you. A common type of fraud affecting businesses of all sizes is accounts payable fraud. Accounts payable, also called AP or A/P, is your business’s short-term debt.…
Read MoreFraud Protection: A Guide for Small Business
As a small business owner, you have a lot on your plate. You are responsible for marketing your business, generating leads, closing sales, and providing excellent customer service. It can be challenging to find the time to focus on another critical task – protecting your business from fraud. Fraud can take many forms, from carding…
Read MoreStop the Scam with These Top 4 Ecommerce Fraud Prevention Tools
The mutual trust between the buyer and the seller has been the cornerstone of all trade since time immemorial. This rule holds to this day, as shopping goes increasingly online. The global pandemic put worldwide digital sales on a giant growth spurt, resulting in a 27.6% increase in 2020. But with every new opportunity come…
Read MoreHow to Prevent Home Title Fraud
Over a third of American homeowners have 100% of their equity in their property. On average, 77% of a 65-year-old’s wealth is in their home. A home is most people’s most valuable asset, but few people are doing enough to protect it. Locking doors and installing alarms won’t protect a home from title theft; scammers…
Read MoreHow To Protect Your Business From Data Fraud
By October 2020, every American brick-and-mortar merchant will be required to use chip transactions. Failure to do so will result in the brand being liable for any fraud that results. Why is this? Chip cards reduce the rate of counterfeit payments received. In 2019, 99% of American payments were processed on chip cards; and during…
Read MoreFraud is Everywhere: How to Ensure Your Small Business Stays Away from It
Whether you’re a fledgling entrepreneur, a business student or a business owner, now is the time to learn how to protect yourself from fraud. Fraud is a considerable problem for entrepreneurs. When malicious actors gain access to sensitive business data, the outcome can prove catastrophic. You can prevent a cyber breach from resulting in more…
Read MoreCheck Out These Fraud Prevention Tips for Your Small Business
In 2012 the entire nation watched the story of the Controller of the city of Dixon, Illinois, unfold. Rita Crundwell was finally caught for having embezzled over $53,000,000 over several years. She had purchased lavish homes and a fleet of show-horses and vehicles, and was living the life of the rich and famous. How was…
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