FDIC-Insured – Backed by the full faith and credit of the U.S. Government12 Ways to Protect Holiday Sales from Fraud
| Posted in Bank Blogs
The holidays will be here before you know it. For many businesses, the holiday season is a great opportunity to build sales, customer relationships, and revenue. Unfortunately, the busy retail holiday season is also a great time for cyberthieves. Here are some ways to safeguard your business and your customers from fraud.
Protect your data:
- Create new and strong passwords on all your computer systems.
- Install all software updates.
- Ensure your data security complies with Payment Card Industry Data Security Standards (PCI DSS).
- Educate your employees on the importance of data security and make them aware of phishing and other scams.
- Regularly back up your data.
- Conduct a cybersecurity audit before the holidays to identify any potential areas of weakness.
Protect your customers:
- Require signature for at-home deliveries.
- Ask for the CVV for credit or debit card orders.
- Require a photo ID for in-store credit or debit card purchases and delivery pickup.
- Watch for abnormally large orders, orders with multiple purchases of the same item from the same customer, and orders shipped to international addresses.
- Require customers to create an online account for checkout versus guest checkout.
- Offer multi-factor authentication as an added layer of security for customers shopping online.