There are measures that you can take to help prevent online payment fraud occurring on your site.

2011 was the first year on record in which over one million fraudulent payment transactions occurred in Australia.

Instances of fraud have increased in recent years, due in part to the growing popularity of online shopping, or e-commerce. In fact, about 71 per cent of the losses from credit card fraud occurred in transactions are in which the cardholder and retailer did not meet face to face, such as online or on the phone.

Dealing with payment fraud can be costly and time consuming. Thankfully, there are measures that organisations can take to reduce the risk of fraud. ‘Knowledge is power’ – the more you know about fraud, the more you may be able to do to prevent it happening.

 

Ask your payment gateway provider

It could be a good idea to talk to your payment gateway provider about what they can do to prevent 0nline payment fraud.

Useful resources

The following resources provide more information on how your organisation may reduce the risk of online fraud:

external linkA guide to cybersecurity in online transactions and banking  on the Australian Government’s Stay Smart Online website.

external linkA guide to online scams on the Australian Government’s SCAMwatch website.

external linkA guide to credit card scams on the Australian Government’s SCAMwatch website.