Fraudsters often hack into these accounts through phishing schemes. Account takeover: You probably provide customers with accounts that store personal information, financial information, and purchase history.Generally, online fraudsters usually use two methods to steal money: But there are steps you can take to help minimize your risk, and we’ve outlined them below.īefore we talk about what you can do to minimize your risk, it’s helpful to understand common tactics fraudsters use. At the very least, if you accept a fraudulent payment, you could be held financially responsible for the loss. 2Īn attack like that can be very damaging. 1 And the Federal Trade Commission reported that, from 2017 to 2018, credit card fraud increased by 24% and online shopping and payment account fraud increased by 18%. reported losing an average of $28,313.33 to online fraud.
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