Ecommerce fraud is inevitable, but it’s possible to mitigate your risk with the right resources. Join host, Pablo Torres, in this episode of True Fraud for expert insights into how you can protect your business from disastrous hits. Learn about the tools to use, and tips on what to look out for to ensure a balance between high approval rates, and low fraudulent charges.
Transcript
Welcome to True Fraud. I'm your host, Pablo Torres. I'm the head of risk and Compliance at Reach. This podcast is to educate everyone about what's happening in the world, the new trends with fraud, and where we see things going. If you are a business, if you are in the payment industry, especially if you're kind of like a mom and pop shop, it's so important to educate yourself with what tools are available to you to protect yourself. This is not something that just happens to the bigger merchants.
Actually, more and more so these groups are targeting the smaller guys because they know that they don't have enough people to take care of this stuff. They're just kind of learning the ropes, and then when we tell them about fraud is real, they kind laugh at it and they're like, oh, no, there's no fraud and then they get the first chargeback and then they lose it because of course it was a fraudulent chargeback, and then they take the hit and it's $200 and they're like, wow, that's actually a lot of money th...