Commerce Glossary

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What is Fraud?

fraud
noun
Making use of the internet to submit fraudulent transactions.
How Does Fraud Work?

There are many ways in which fraud can occur and just as many reasons why eCommerce providers are vulnerable to fraud. Due to the nature of eCommerce transactions, it is more difficult for eCommerce providers to prevent fraud as chip-and-PIN cannot be utilized and asking buyers to provide photo ID may deter them from proceeding with their purchase.

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