As businesses migrate online, cybercrime is beginning to expand. Not only is digital fraud impacting online stores, the process of how hackers penetrate databases in evolving.

In an article from Disruption Hub, author Laura Cox writes, “. In 2012, digital fraudsters cost online businesses in the US $3.5 billion, and the number has continued to grow. In fact, from 2015 to 2016, incidents of digital fraud increased by 33 per cent. So, if you’re an ecommerce business, chances are you’ve experienced online crime. But what are some of the different types of digital fraud, how do they work, and what can be done to stop them?”.

In the article, Cox discusses:

  • Business identity theft
  • Chargeback fraud
  • Affiliate fraud
  • Account theft

Cox continues, “Given the incremental increase in ecommerce crime, developing and investing in fraud prevention is no longer advisable – it’s a necessity”. What cybersecurity precautions does your business currently have in place? If you have not addressed your cybersecurity concerns, it may be time.

To read more, see the full article from Dallas Romanowski in WilmingtonBiz.