Business Risk & Vulnerability Assessment
Simply put, a business risk is anything that can cause your business to lose profit.
Every e-Commerce business selling products or services in a card-not-present environment is susceptible to risk. Hackers are becoming smarter every day and are trying to find new ways to attack e-Commerce businesses. It has been estimated that e-Commerce businesses lost over $2 billion in sales last year due to fraud. It is a necessity for e-Commerce business to identify the threats they are facing and have the necessary protection and protocols in place to prevent e-Commerce theft. E-Commerce is considered the “low hanging fruit” for online fraud.
Most common reasons for vulnerabilities faced by e-Commerce businesses
- Weak Authentication – No SSL installed on the website
- No CVV or AVS match verification when accepting credit card transactions
- No fraud monitoring software installed to detect fraud
- Orders shipped without verifying the order profile
- No processes or protocols developed to identify fraud orders
- Poorly developed websites
- Unreliable web hosting providers
Can you afford to run your business without having a risk & vulnerability assessment done?
There are so many articles written about the importance of business vulnerability and assessment for e-Commerce businesses. If you sell products or services that can be sold elsewhere at a reasonable cost, the chances are you will be targeted by hackers. Hackers always look for e-Commerce websites which sells consumer goods or services that are in demand and the businesses selling these products will be in their radar. You need business risk and vulnerability assessment if you care about:
- Your business profit
- Your business branding
- Your customer’s personal information
- Your customer’s transaction
- Your business responsibility
How can vulnerability affect your e-Commerce business?
Vulnerabilities will have a direct impact on your profit margin and can lead to:
- Revenue loss, as you will be faced with a huge spike in chargebacks
- Product loss, since you have shipped the product to a hacker
- Reputation loss, since defrauded customers will write about your business online
- Online presence loss, as search engines do not favor businesses who have a bad reputation
How Chargeback Gurus® can help you?
The first step in identifying internal risks is to have a thorough business audit. While you can do this yourself, you may not have the objective point of view needed to closely examine all of your processes. That’s where Chargeback Gurus® comes in. Our experts come in with no bias towards your processes. We will be able to objectively identify where your business needs help and what needs to be done to prevent or minimize your risk.
Our 360 degree bulletproof audit includes:
- Analysis of your website content, price point, terms and conditions
- Analysis of web security such as SSL, checkout page security and confirmation pages
- Analysis of your fraud monitoring and prevention process
- Analysis of your back office process, including fulfillment, customer service, refunds, etc.
- Analysis of your fulfillment, call center & manufacturer quality measurement protocols
- An outline of all the process issues faced that leads to business loss
- An outline of all preventive measures and action steps necessary to stop/reduce the risks involved
- An outline of all the software necessary to protect your business from vulnerabilities
Chargeback Gurus® has been helping business reduce chargebacks, prevent online fraud and create a streamlined business processes to increase their productivity and ROI for over 14 years.
If your business is in need of our expert team to fix your e-Commerce challenges, call us at (866) 999-3758 or click here to schedule an appointment with our security experts.