Protect Yourself From Counterfeits And Gray Market

By Author: Alice Coope
Total Articles: 213
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Did you know that almost every 7 seconds a victim falls prey to online fraud? Even the most prepared organizations find themselves falling prey to these attacks. To safeguard your business you need to establish some basic fraud prevention measures to stay secure online as well. Online fraudsters today have become increasingly sophisticated and operate through customized shopping sites. This is a growing concern for the e-tailers as it can harm their business to a great extent. According to Sage Pay’s E-business Benchmark Report the average cost of fraud each year is £500.

According to Global Anti-Counterfeiting Group, 10% of all IT products contain counterfeits. 7-10% of all goods sold in the world are estimated to be counterfeit or have counterfeit parts. 11% of world’s clothing and footwear are counterfeit. Even the pharmaceutical industry has not been spared. Worldwide Pharmaceutical counterfeit sales are increasing 13% annually- nearly twice the pace of legitimate drugs.

Challenges of Finding Counterfeits Online

Finding counterfeits online is a huge challenge as there are too many web pages to ...
... monitor manually. Moreover illegal activities are camouflaged well and hidden to typical web crawling. Another major challenge is analyzing the data fast before it grows cold.

Being Aware of Online Fraud

It is important to be aware of online fraud. Online consumers shop in haste. They are not much aware of the fraudulent activity that goes on online. For instance, normal signs of a safe website, such full contact details, security policy, upgraded goods and securely managed payment pages might be successful in offering reassurance to buyers to browse and purchase from the website. However, the same website might be tricking buyers either with the information they share or by selling duplicate goods. However, today there are numerous ways to prevent internet fraud.

Enterprises today have realized that internet has facilitated selling of counterfeit products and gray market goods to a great extent. This is a very common tactics of selling fraudulent goods in the high tech industry.

In the recent past, there have been instances of global high tech enterprises resorting to online fraud protection solutions that were manual or semi-automated and were time consuming. These solutions were rarely able to curtail fraud as counterfeit listings often go on and off the web within 48 hours, thus a solution that can offer real-time searching to find violators has to be used. These solutions offer not only unmatched visibility into global open market to search for counterfeits but also a number of automated enforcement features including cease & desist or DMCA letters, Vero and other auction shutdowns .

Eminent service providers of online fraud protection have come up with innovative solutions to protect the same. They have inherent features such as:-

* Improved anti-counterfeiting software solution

* Innovative search capacities that scans the internet on a regular basis

* Application of human intelligence to assure data integrity

* Prioritizing for suspects based in the client specifications

Thus stop online frauds by being proactive rather than reactive and invest in a fraud prevention solution that can help you can curtail this problem.

Read Also On: Grey Market