Festive Fraud Prevention: 7 Key Tips

As the Christmas period approaches, businesses face heightened fraud risks.

Increased e-commerce spending is great for boosting revenue at the end of the calendar year—perfect! But for every pound spent through your checkout, there is, unfortunately, a risk of fraudulent activity impacting your bottom line. 

Our fraud-prevention partners at Kount recently outlined seven critical steps on their blog here, helping businesses safeguard against fraud while maintaining excellent customer experiences. 

We’ve summarised them below. 

Seven ways to prevent fraud over the festive period

1. Prepare websites: Ensure your site is optimised for increased traffic and secure against cyberattacks.

2. Update fraud policies: Adapt your fraud prevention rules to seasonal shopping patterns.

3. Train teams: Equip employees to identify and respond to scams effectively.

4. Guard against promotion abuse: Monitor coupon use and referral programs to prevent exploitation.

5. Strengthen mobile security: Protect against mobile fraud as it rises during holidays.

6. Boost checkout security: Use tools like CVV matching and address verification.

7. Plan for returns: Prepare for fraud associated with returns and chargebacks.

Small business owners and online merchants should take note and look to implement these on their websites to protect themselves over the upcoming busy shopping weeks. 

By implementing these strategies early, businesses can enhance security, reduce losses, and ensure customer satisfaction. Considering your payment technology is also an essential part of this;  Taylor.io integrates fraud detection tools as standard, helping to prevent fraudulent activity while improving customer trust and checkout experiences. 

Read more on Kount’s blog here and get in touch with Taylr.io here.