Toni
5th March 2008, 15:06
Okay so you all know about PnL.... but what about the L from from fraud?
DO you guys just accept that you will lose money on a dily basis due to fraud or do you have a system in place that gaurantees you are not hot by fraud.
It appears to me that online fraud is to easy and if you wanted you could easily do a turnover of £50K a year minimum on a small scale.
Even when talking to the banks they speak casually that you will be hit by fraud almost to say that it is that easy at the moment.
So know your business projection also have to include loses through fraud and not just broken tea cups.
When you guys do your projections who much of a loss do you set because of fraud?
How bad is fraud hitting your business, or have you just set that cost asside and look at your profits after this loss?
Do you feel you have no poewr in comabting fraud since even if you check that the address is correct get a signature and everything and the transaction turns out to be fraudulent that paper work to the bank means nothing.
Ta
DO you guys just accept that you will lose money on a dily basis due to fraud or do you have a system in place that gaurantees you are not hot by fraud.
It appears to me that online fraud is to easy and if you wanted you could easily do a turnover of £50K a year minimum on a small scale.
Even when talking to the banks they speak casually that you will be hit by fraud almost to say that it is that easy at the moment.
So know your business projection also have to include loses through fraud and not just broken tea cups.
When you guys do your projections who much of a loss do you set because of fraud?
How bad is fraud hitting your business, or have you just set that cost asside and look at your profits after this loss?
Do you feel you have no poewr in comabting fraud since even if you check that the address is correct get a signature and everything and the transaction turns out to be fraudulent that paper work to the bank means nothing.
Ta