How Consumers Can Reduce Cyber Fraud Cases

Today, millions of people are using computers, tablets, and mobile phones for remote financial transactions of varying degrees of magnitude. However, with the rapid development of online and mobile payment processing, new forms of cyber attacks are emerging. That said, can consumers start to play a major role in the fight against cyber criminals? Global Web, a major payment processor, explores the question below.

Of course, consumers want financial systems that are easy and quick to use, and that are above all else, highly secure. Consumers certainly do understand that there are risk involved in online payment, but, at the same time, they look to payment processors and banks to take care of security for them. Nevertheless, there are certain things consumers can do to help block cyber fraud.

Financial institutions need to educate and communicate with consumers as part of their own effort to increase their customer pool and to reduce losses due to fraud. Consumers need to be educated about how to keep their accounts safe--whether its by never leaving an active logged-in session on the computer, taking extra precautions when wiring money and depositing checks, reading their monthly statements, donating money only to established charities, covering up their PIN numbers at the ATM machine and so on. Consumer education should come hand in hand with more and more advanced technologies that fight back against payment fraud. It is crucial that consumers are aware of how to keep their personal account information safe, and that they can spot the signs of online fraud--such as suspicious emails and purchases.

Indeed, true fraud management solutions involve the participation of the consumer along with sophisticated technology. Thats why Global Web actively shares information with consumers about how to avoid fraud. With Global Web’s two-prong strategy--education and technology--consumers and merchants can benefit from truly secure online transactions. Global Web utilizes advanced encryption systems which disallows external entities from gaining access to sensitive information, like bank account numbers. While Global Web continues to work hard to provide its customers with advanced solutions and comprehensive consultation, the company also aims to empower consumers in the fight against online fraud.

Learn More About Global Web
Global Web was founded in 2007 in New York City with the goal of providing merchants with content and subscription management systems. In addition, the company supports payment transaction verification, and billing support for a diverse array of Internet merchants and vendors. Global Web may be contacted at (877) 855-1753 or via Facebook, Google+ or Blogger.