Online businesses are more prone to scams compared to offline business. Let’s say you sell the products but the buyer files charge backs. Or, you sell the product, but the buyer does not receive it and you still have to bear shipping cost. These are just few examples. Online sellers are under the risks of scams frequently. It is very important to mitigating these risks. One way to handle this is to communicate well with the customers before shipping products, and use payment methods that does not allow chargebacks. Also try to be cautious of fraudulent claims. You can also accept prepaid payment to avoid scams.
How to Mitigate Online Business Scams
- Thread starter Mika
- Start date
Online businesses are more prone to scams compared to offline business. Let’s say you sell the products but the buyer files charge backs. Or, you sell the product, but the buyer does not receive it and you still have to bear shipping cost. These are just few examples. Online sellers are under the risks of scams frequently. It is very important to mitigating these risks. One way to handle this is to communicate well with the customers before shipping products, and use payment methods that does not allow chargebacks. Also try to be cautious of fraudulent claims. You can also accept prepaid payment to avoid scams.
You can mitigate online scams from happening in your business by taking some measures that ensures your business accounts are kept safe, this can be banking with the right company and making sure you apply the best risk management for your business, it includes distributing your finances to different accounts.
Keeping your passwords safe in a password lock and never sharing them with other people, build a very strong backend in your business so that hackers will not be able to protrude into your backend or have access to it, you can also higher Cyber security experts for routine check.
Keeping your passwords safe in a password lock and never sharing them with other people, build a very strong backend in your business so that hackers will not be able to protrude into your backend or have access to it, you can also higher Cyber security experts for routine check.