happens in a number of different ways. Whether information is physically stolen
or compromised through the Internet, criminals will use anything and everything
they can get their hands on. There is not much you can do about the theft
process for your customers when the situation is out of your control. However,
you can implement a strong fraud prevention solution that doesnt allow the fraudulent activity
through your system.
Along with keeping
criminals from using stolen information, fraud prevention strategies also keep
your system and existing data safe so its not compromised. Both of these
things are crucial to thriving as a business and protecting your organization
and customers. Fraud and identity theft can have a negative effect on a
businesses bottom line and impact costs and revenue throughout the
organization. The possibility of your customers becoming victim to identity
theft is a very real and serious threat to them and you.
to utilize comprehensive identity verification and fraud prevention solutions
to ensure customers are who they say they are. This can help with account
establishment, high-risk transactions, or wherever your organization may need
to reduce loss and mitigate risk. Use KBA
to execute a series of multiple choice queries that only your actually customer
would be able to answer. You can also use drivers license verification for products and services with age
Fraud and theft is a
growing danger for all. Your customers need to remain vigilant and protect
their personal information just as much as you need to safeguard your business.
Partner with an innovative identity verification and fraud prevention solution
that can provide your organization with the protection it needs. Being
knowledgeable, proactive and using the best tools available will help in
reducing fraud, protecting customers and your business.
[Contributed by EVS