As technology evolves, cybercriminals also advance their skills. Hence, the number of frauds in the technology and entertainment industries has increased. The government is doing its best to eradicate fraud in the country.
However, as the government put safety measures in place, fraudsters also counterattack these measures.
Therefore, the entertainment and technology industries are putting trust and safety strategies in place. These strategies are quite different from the normal safety protocols.
Why do digital organizations need safety and trust measures?
The main reason organizations have trust and safety measures is to protect their businesses and clients. This will also improve their relationship with their customers in the long run. According to Richard Lechartier, trust and safety measures also mitigate risks. 50-year-old entrepreneur Richard Lechartier is the co-founder of AVENTI Group in the UK.
Previously, there were old safety and trust measures used by different firms.
The old safety measures majorly involved preventing the company from losses. Whereas, the new method includes putting the customers’ needs into consideration along with the company’s interests.
Hence, many technological firms have collaborated to form a partnership on safety and trust.
This partnership will:
- Analyze the best way to prevent fraudulent activities in an organization.
- It will also address copyright issues and the intellectual property right of digital services.
- The partnership will seek to prevent privacy breach that leads to content leak in organizations.
- Protect business models content from leaking out to fraudsters.
- Lay down rules and regulations for digital service providers.
- Ensure that organizations follow international trust and safety standards.
- Create safe virtual environments for internet users.
- Ensure that digital space is correctly utilized by internet users.
Trust and Safety Strategies
The followings are the trust and safety strategies laid down by the trust and safety organization:
- Digital service providers must prioritize the safety and privacy of their customers. They should state their aims and objectives on their websites.
- Digital service firms must provide good customer service for their customers. They must also personalize user content according to their customer needs.
- Digital service providers must equip themselves with fraud prevention infrastructures.
If the entertainment and tech firms implement the above strategies, the number of fraud cases will reduce.
Trust and Safety Guidelines
Prepare for possible problems that may occur in the future beforehand
Companies should be able to foresee possible digital issues that may occur beforehand. If they can do so, they can prepare now and solve the issue when it occurs. Focus on any loopholes and create solutions for them. For example, many people used the internet to pass wrong information about Covid19 during the pandemic. This created panic and anxiety among people more than the actual virus. The government was focused on lockdown measures and forgot to regulate misinformation on the internet. Many people posted wrong information about some drugs or herbals that can cure COVID. However, this information was wrong and a few people died because they took fake drugs and wrong herbal mixtures. By the time the government took notice, fake information about the Covid19 cure had gone viral.
The government should have dedicated a team to monitor the internet as well to prevent this.
This is also the same for digital service firms. While they focus on major issues and operations, they should not forget to monitor minor problems that may occur. Understandably, many companies do not have the resources to create a special team for this. But the companies can all come together and find solutions as a team.
When they come together as one, they can predict and mitigate risks, create protocols to manage the risks. In addition, they may develop rules and regulations and provide solutions to some issues and ensure transparent dealings.
These strategies will ensure that they are ahead of prospective fraudsters and incur minimal losses. The digital space will also be an all-inclusive, safe place to be.
Adopt a diverse approach
The technological industry is a wide one that encompasses many branches like transportation, medical, and so on. That is, technology is used in all the branches or sectors available in the world. It has also been used in creating innovations and tech firms.
Hence, tech firms need to adopt safety and trust protocols to prevent fraud. Different firms should be able to use these protocols, and the protocols must not go against their values. Furthermore, these protocols should not affect the firms’ products, services, and customer satisfaction.
Additionally, tech firms can make it a habit to review their internal operations and staff, and assess risks. According to Richard Lechartier, the review should be done according to:
- The number of workers they have.
- Size and value of the company.
- Customer base, that is, the number of customers the company has.
In conclusion, firms should adopt an honest and transparent method in operating their business. They should also be up-to-date with current anti-fraud strategies. All these will make their customers trust them more.