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How Online Fraud Detection Can Save Your Business

By John Nelson Subscribe to RSS | December 16th 2011 | Views:
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When getting started with an online business today, protecting your finances is very important. Whether you are a very large or a very small organization, online fraud detection can help you to avoid lost profits due to fraudulent credit card information and other things that are used to get products or services without paying for them.

Hackers today have many different ways of obtaining information that they then use to obtain services and/or products that will never be paid for. Not only does this create a problem for the owner of that information but it also causes issues for the company who is sending the products or providing the services for the hacker.

Fraud detection needs to change and adapt as the hackers gain more knowledge about ways to steal the data of others and use it for their own gains. Using a variety of different services, fraud detection can prevent losses that are associated with fraud and the use of fraudulent data today.

Fraud detection helps reduce losses that will occur when a person successfully uses someone else’s information to gain products and services. When information is used into a website, there are many ways that a hacker can get the data. Each time you use your financial information online, there is a possibility that a hacker will steal it.

Fraud detection stops hackers from using this information when it is in use on a website. The systems that are available today will add one additional step to the checkout process. That step will be to require a telephone number to be entered into the provided box. The automated system them calls or texts that telephone number with a personal identification number which must be entered in the next step of the checkout process in order to continue.

If the personal identification number is not entered or is not entered correctly, the order is not processed. This means no loss for the organization and no problems financially for the owner of the information that was used. It is truly a win-win situation for the organization as well as the person whose information was being used by the hacker.

This small little change will save millions of dollars for the organization as well as reduce risks of using your information online. Your regular customers will see it as added protection for them and will barely even notice that one little additional step.

John Nelson - About Author:
John Nelson, as IT personnel also provides useful information by writing articles about running successful web businesses through various means. He knows that spammers and hackers continuously create problems on the web. To get more information about fraud detection, please refer www.telesign.com .

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