How bad could it be? The effects of online fraud

As a merchant, being a victim of fraud can have a range of effects on your business. These effects include:

  • Immediate financial loss due to stolen stock/earnings
  • Damaged reputation
  • Loss of customer trust
  • Loss of investor confidence
  • Lowered sales
  • Extra costs of time/money to manage each fraud incident
  • Lowered staff morale
  • Possible legal costs
  • Lowered value of your stock/services
  • Additional bank fees for transaction reversal
  • Potential problems retaining your merchant’s bank account after too many reversed transactions