The last couple of years has seen a huge rise in the use of internet and online business activities. As more and more business gets transacted online, there is also a growing threat of online scams. Online scams are basically methods by which fraudsters try to cheat you for their benefit. This could be either by pretending to be someone else (identity theft), by sending you phishing emails to get hold of your data, via fake websites that are designed to look like original websites or by hacking online sites to steal credit card and other payment related information.
Preventing Fraudulent Transactions Is A Priority
It has been found credit card related frauds are one of the biggest contributors to online fraud. All of this has raised a lot of concerns and both business and internet users and online payment processors need to find ways and means of preventing fraudulent transactions. Firoz Patel, Fraud expert has been associated with Payza since its inception. Payza is a Payment processing platform that allows registered users to transfer money online. Payza supports multiple currencies and is available to users across the globe.
Some tips suggested by Firoz Patel to prevent fraudulent transactions include making sure the online business or payment processor you use has a strong cyber security policy. This includes monitoring and detection of frauds and proactive measures to prevent frauds in the first place. The Payza fraud prevention team uses a proprietary fraud prevention matrix to detect suspicious activities. The most important aspect of cyber security is that the team must always be on the lookout for new methods used by cybercriminals and fraudsters and take proactive steps to tackle them.
Tips For Internet Users
Users on their part must make sure that they use strong passwords, do not share their passwords with anyone and are always alert when they enter their personal or payment related details on any site. One of the most common techniques that are used by criminals is phishing attacks and users must never ever pass on their personal or credit card details to any person without first verifying their authenticity. These simple steps can go a long way in fraud prevention.