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Doing business online and fraud detection software

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What do I need to know about fraud detection software if I'm going to do business online?

Doing business online and fraud detection software

As a business owner, there are two levels of fraud detection software with which you need to concern yourself. First, you want to make sure your employees are not embezzling money by cutting checks to false vendors or buying personal items with corporate funds. Second, you want to make sure that the credit card payment you are accepting is legitimate so you won't ship off your product and never see payment. Typically your merchant account and payment gateway will be responsible for fraud detection software in terms of credit usages. You will also want to monitor your internal accounting to make sure you have appropriate checks and balances in place, such as having one person enter the vendor bills and another one cutting the checks.



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Jolyn Wells-Moran