How SMEs can avoid rising COVID-fuelled e-commerce fraud
Category : blog
With changing restrictions and intermittent lockdowns across the country, the uncertainty of 2020 saw more shoppers than ever before make the move online.
Unsurprisingly, many Australian SMEs have moved sales online and improved their existing digital experiences for customers.
As we break into a new year, now is a great time to reflect on the impacts COVID-19 is having – for better or for worse. The ABS shows that retail turnover for November 2020, including online sales, rose by 7.1 per cent month-on-month.
Perhaps even more interestingly, Australian retail turnover increased by a huge 13.3 per cent compared to November 2019.
Despite the challenges, momentum is strong. There’s no doubt this is largely down to the speed at which consumers have adapted their shopping habits.
But what does a rapidly increasing online sales mean in a world where cyber threats are a serious issue? To put this in perspective, while a report by Australia Post reveals that online sales alone jumped by almost 17 per cent in November 2020, online shopping scams also edged upwards late last year with over $8 million lost to fraud throughout the year.
Here are some of the steps you can take to minimise the chances of fraud in what could be another record-breaking year.
Aaron Camilleri, Product Director, Live group
The post How SMEs can avoid rising COVID-fuelled e-commerce fraud appeared first on Inside Small Business.