Apr 2022 | General |
By Posted by Bartłomiej Staszewski

Bartlomiej Staszewski, Senior Global Consultant at Experian, discusses the evolving techniques of fraudsters and how your business can protect customers

The pandemic undoubtedly brought eCommerce to the top of many companies’ priority lists. Businesses that were already established in trading online wanted to take advantage of rapid expansion, while those that did not have an internet sales presence quickly tried to catch up.

Not all companies are equally as comfortable in the online world, and the same could be said for their customers.

While the world is becoming increasingly digitally native, not all customers are enthusiastic adopters, and we must consider their needs.

A prime concern for this group may be online security. The businesses that can prove their credentials and win customers’ trust that they will be protected from fraudsters stand the best chance of success.

Security for your customers

If your inbox looks anything like mine, you will have noticed an increase in the number and sophistication of fraudulent emails. Generic promises of riches from overseas or unexpected lottery wins have been replaced by emails that can look and feel like the companies we interact with every day.

The fraudsters want to get people’s credentials, and these new techniques are certainly harder for people to identify.

Your business can earn customers’ trust by showing you will ensure they are who they say they are. For instance, if a call from a bank is accompanied by a push notification to the app on a customer’s phone to confirm they have the authority to be in contact.

There are several other ways to educate your customers on fraud so you can prove you are on their side.

A range of options

Now more than ever, it is crucial to ensure your business has the proper and appropriate fraud controls in place.

No two businesses are the same, and the threats posed to your customers by fraudsters may be unique. We have boutique solutions for these niche issues, so you can provide people with a way of checking whether phone calls are legitimate or using social media scoring to qualify whether a person is a real customer.

Companies must do all of this while ensuring they comply with local regulations. Therefore, it’s vital to work with experts in data management to find a solution that protects your customers – and your business.