What Measures Can Be Taken to Prevent Payment Fraud?
To prevent payment fraud, businesses should: - Educate Employees and Customers: Provide training on recognizing and reporting phishing attempts and other fraudulent activities. - Secure Email Systems: Use strong passwords, encryption, and secure email protocols to protect email accounts from being compromised. - Implement Rigorous Verification Processes: Ensure thorough verification of new accounts and transactions. - Regular Audits and Monitoring: Conduct regular audits of transactions and monitor for unusual patterns.