With the accessibility of the Internet, business has advanced at warp speed. Now transactions that have traditionally taken days to complete can be resolved in seconds. The Web has made it easy to find and be found by customers across the globe.
The downside to this revolution, however, is an uptick in fraudulent practices. These run the gamut from stolen domain names to reputation destruction online. There are ways to combat this fraud and keep your business safe in the digital age.
Online Fraud Protection
Protecting your business from fraud is vital in the Information Age. Scammers have open access to your business and can damage your company beyond repair.
Cybersquatting is a huge problem that decimate company profits and cost your business thousands of dollars to fix. Cybersquatting refers to a practice in which scam artists purchase your company’s name as a domain. They then create pages on the domain which are indecent or defamatory to your company. The scammers then demand outrageous sums of money to transfer the domain name to your company. Until you pay up, your company’s reputation and profits suffer.
Phishing affects financial firms across the globe and can cost your company in lost revenue. Hackers break into your company’s database and capture your customer’s personal information. In a phishing scam, scammers pretend to be representatives of your company and send correspondence to unsuspecting customers. These scams have wiped out entire customer accounts. Phishing scams are especially damaging because of the loss of trust from loyal customers.
Internal fraud can be especially damaging to your company. When executives engage in illegal business practices, your company will suffer. These practices can range from embezzlement to insurance fraud and money laundering. When these practices are discovered, the fallout can damage your company name indefinitely. By conducting a thorough background check on all company employees, you can avoid hiring executives who are likely to defraud your company.
Online Reputation Management
Many reputation challenges can be overcome with the right amount of time. As time passes, your company’s scandal will be old news, and business will go humming along as usual. For more serious reputation issues, you need online reputation management. A disgruntled employee or competitor can wreak havoc on your company’s name online.
They embark on campaigns of defamation that can last for months. They post negative messages about you on social media sites, write negative comments on blogs or create entire pages of negative information on your company.
When you face an online reputation challenge, there are several things to remember. First, you should never address the negativity directly. If you post a follow-up comment on a blog, your comment has given the blog credibility in the eyes of search engines. In essence, you have given the negative comments higher placement on the search engine pages, thus worsening the situation.
The second is to take swift action. The longer the negative information remains online, the more weight it has. When you discover an online reputation challenge, address it immediately by calling in a skilled firm that can restore your good name online.
Cleaning up your reputation online is one part art and two parts science. In order to mitigate the damage caused, you will need a skilled online reputation management firm that can not only clean up the damage but prevent new attacks. These firms employ teams of content creators who are skilled in the art of search engine optimization.
They strike with a clear cut plan of action. Over the course of a few days, weeks or months, they go to work, cleaning up the reputation mess and creating a squeaky clean image of your business online.
Lexis Nexis provides an entire suite of services designed to protect firms online. Lexis Nexis fraud protection will keep you from being the victim of phishing, cybersquatting and online defamation. No longer do you have to suffer when scammers attack your company. Lexis Nexis also provides comprehensive background investigation services that will protect your company from dishonest employees. Know exactly who you are doing business with and protect your company from financial ruin.
Online scams and cyber crime can derail your company. Protect your business with online fraud protection today.