We are gradually approaching that time of the year when transaction rates multiply, with many businesses having more demands than other times during the year. Holidays mean people purchase at leisure, purchase in advance, and in abundance to ensure a good time during the holiday. This particular holiday has people saving up for it through the months, so why not take this advantage for your business?
However, the downside of this time is that it is also a good time for scammers to launch their operations. They know the increased transactions and demand make businesses too busy to keep up with safety and security protocols, and somehow they let down their guards.
As a business, this should be when you are on guard the most. Also, everyone likes to rest during the holiday, which usually leaves operations on auto-pilot. But this innovative solution can leave the business vulnerable to fraud attacks.
My advice to you will not be to reduce the volume of transactions you process, neither will it be to rule out auto-pilot. You should be able to enjoy your holiday. Instead, here are five things you can do to keep your business from fraud attacks during the festive season.
- Update all your software
- Use multi-level factor authentication
- Educate your staff
- Use a password manager
- Encrypt all communication
Every business is unique in terms of its operations, and this usually determines how fraudsters attack your business. Because when they carry out the attack, they don't want you to discover early enough, such that they are long gone with the money/data before you realise what happened. In fighting fraud attacks, consider the areas in your business that are vulnerable and apply safeguards there. If you need to bring in a security expert, then do that.
On a final note...
At Redbiller, we don't just offer payments; we offer payment security. And that is why we encourage multi-level authentication for accessing and managing your account. With us, you can be sure that through the year and even the festive seasons, we are always at our post, protecting your account from fraudsters and potential loss.