E-commerce Fraud Prevention on a Budget: Cost-Effective Strategies for Small Businesses
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Shopping at Amazon or Target exemplifies convenience! Customers are drawn to e-commerce companies because of features such as easy ordering, applications that work on many devices, no-questions-asked return policies, and rapid reimbursements. The market has grown exponentially, but it is not without obstacles. E-commerce Fraud Prevention can be extremely detrimental to organisations and their customers, resulting in illegal transactions, financial losses, and reputational damage. It is a major worry for any company that works online, as it can have a detrimental influence on customer trust, security, running costs, and the entire profitability of the business - in addition to significantly impacting the user experience. E-commerce attracts fraudsters and hackers. Disputed transactions are unavoidable. They cause chargebacks for shops. This implies that if a credit card issuer challenges a credit card transaction, the shop is accountable for making up any losses. Malicious ac...