How to Prevent Credit Card Fraud on the Internet

Ask any group of CPAs and accounting professionals what they think about buying something over the Internet. More often than not, you'll hear a lot of warnings regarding the security of their credit cards.

Online sales have been going on for years, now, and the community still seems to be skeptical. However, a group called the Software and Information Industry Association is doing something about it.

This group of 1,000 high-tech companies has written a 16-page White Paper (in Adobe format) with guidelines on how to prevent online credit card fraud. The matter concerns businesses that process transactions as well as consumers because it is the responsibility of those conducting the transactions to ensure data is secure at all times.

The author of the paper warns that e-commerce sites must make their processes easy to use and follow and must modify their business operation to make sure users have a sense of privacy and security. Otherwise, consumers will go elsewhere.

You may like these other stories...

If you're thinking that bitcoin and digital currency generally are merely some one-off flash in the pan, the new Digital Currency Council would argue otherwise. The council launched in September and already had 400...
Sponsored Content from Confirmation.com: AccountingWEB takes a look at confirmations in audit engagements, how they can serve as a doorway to fraud, and what you can do about it. Today, auditors have to fight fire with...
If your small-business clients are on the fence about cloud accounting, they've got plenty of company. A recent survey by market researcher and consultant Software Advice indicates a decidedly mixed view by respondents...

Already a member? log in here.

Upcoming CPE Webinars

Oct 22This webinar will include discussions of important issues in AU-C 800, Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks.
Oct 23Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.