A certain amount of fraud during the holiday shopping rush may be unavoidable, but there are things eCommerce businesses can do to prepare for and protect themselves against things like fraudulent chargebacks or the use of stolen credit cards. Some actions SEON suggests businesses should take include:

Take time to review the previous year's Cyber Week data. Make note of any transactions made during that period that ended up as fraudulent chargebacks, and label them as such in your machine learning system in order to detect any patterns.
Keep your risk management teams in the loop about Cyber Week deals that could draw increased traffic and transactions so they can be properly prepared to handle any problems that may arise.
Be aware that phishing attempts – with fraudsters attempting to trick consumers with faux websites and deals – are rampant during Cyber Week. Your cybersecurity team should actively keep an eye out for these kinds of attacks to help prevent customer data from being stolen.

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