Financial Security, General, Business Banking

Protect Your Business and Customers from Online Shopping Fraud

Since the COVID-19 pandemic began, an increasing number of customers are choosing to shop online. And that gives you a great way to reach new markets and grow sales for your business. But with that growth in online shopping comes more risk of fraud, which can cost you money and ruin the trust your customers have in you. Here are some tips to protect your customers and your business from online shopping fraud:

  1. Encourage customers to create strong online passwords when setting up accounts. If possible, prompt them to create new passwords regularly.
  2. Offer added levels of security, including biometric IDs or two-factor authentication that requires customers to verify their identities when making certain transactions.
  3. Update software on all your equipment and run anti-virus programs regularly.
  4. Use Secure Sockets Layer (SSL) encryption at checkout and on pages where customers are asked to provide personal or financial information.
  5. Educate your customers and your employees about the importance of protecting sensitive information.
  6. Avoid storing customer's credit and debit card numbers, which could be compromised by hackers.
  7. Install firewalls to prevent data breaches that could threaten your customers' sensitive information and their trust in you.

The best defense against fraud is information. So be sure to stay attuned to the latest scams and ways to protect your business.

Ask Washington Trust

Contact our Cash Management experts at Washington Trust to help find the fraud protection that is right for your business.

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