Anti-Fraud Solutions to Stop Profit and Brand Reputation Erosion
Wikipedia defines Internet fraud as “the use of Internet services or software with Internet access to defraud victims or to otherwise take advantage of them.” Today online fraud is on a rise, as the Internet is the easiest and the cheapest way to con people out of their money. Internet fraud can occur in chat rooms, email, message boards, or on websites. There are different types of Internet frauds such as Internet Auction Fraud, Nondelivery of Merchandise, Rogue traders, Phishing, Identity fraud, Spam, schemes, Transferring money, and so on.
The greatest nightmare of product manufacturers and enterprises are rogue traders who use all kinds of marketing techniques to sell their products. Thanks to the Internet, rogue traders have numerous venues to sell their goods. Since most consider grey market and counterfeit goods as “the cost of doing business”, the grey marketers and the counterfeiters go unpunished. However, if looked closely these illegal activities leads to not only losses in market share, but also losses in revenues and brand reputation for the original product manufacturers. Not long ago counterfeiting was a threat to trademarks only, but today it is a threat to public health and safety and therefore, instead of a lenient attitude what is required is a proactive approach to combat the counterfeiters and grey marketers.
Today, it is more than necessary to prevent internet fraud. Apart from it being a threat to public health, grey marketing and the sales of counterfeit goods are found to profit known terrorist groups, drug cartels, and street gangs. With a robust online fraud protection solution to protect brand, revenues, and customers, an enterprise can gain unmatched visibility in the global open market and seek out counterfeits.
These anti-fraud solutions use an advanced search technology to reach numerous global sources where traditional methods and other software solutions have failed to get any access. Being SaaS-based software, these solutions prioritize each suspect according to customer criteria such as discount percentage, number of products, listings, and sales volume. This analysis makes it easy to identify top anti-fraud targets. By engaging investigation and enforcement procedures against these top suspects, customers experience a faster and better ROI.
By investing in an advanced anti-fraud solution, enterprises can easily put a stop to revenue, profit, and brand reputation erosion caused by counterfeits.
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