<\/p>\n
Im really into sports. I used to love playing Thats what got me thinking<\/span><\/p>\n When implementing an overall <\/span>fraud prevention plan<\/span><\/a>, I would Typically, companies want happy,
\ngrowing up, and through the years, I have become an avid fan. Aside from ones I
\nparticipated in, I also really enjoy watching the Olympics. Out of all the
\nathletes there, the ones that impress me the most are the gymnasts in the
\nbalance beam competition. Not only are they incredible athletes that do amazing
\nleaps, runs and flips, but they do it all on a 4 inch wide beam. Consider this
\nfor a moment. If they are slightly off balance to the right or the left, they
\nfall completely off the beam, and the competition is ruined for them. Theres a reason its called a BALANCE
\nbeam. <\/span><\/p>\n
\ncaution companies to look for the right balance. What is the overall goal
\nyoure trying to accomplish? Are you solely trying to meet a compliance
\nrequirement? Are you looking for a way to combat fraudulent transactions on
\nyour website? Are you attempting to combat fake ids in your retail store? Identifying
\nyour goal is the first step, but a lot of companies generally struggle is in
\nthe implementation process. <\/span><\/p>\n
\nrepeat, customers, and this must be taken into account in fraud prevention. Sure,
\nyou want to mitigate fraud, but at the same time, you dont want to become so
\nintrusive in your methods that you scare away existing customers or prevent
\nlegitimate consumers from doing business with you. It really is a balancing act,
\nand the implementation differs greatly dependent on the industry that you are
\nin and your customer base. There are a number of questions you must address. What
\ntype of personal information are you going to require from your customers? If
\nyou are going to make use of <\/span>Knowledge Based Authentication<\/span><\/a> questions, what types of questions are you going to ask? Is
\nthis going to be a one-time verification or will someone be verified each time
\nthey call in or visit your website? What is the procedure if someone does not
\npass through the verification process? <\/span><\/p>\n