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Crowdfunding harnesses the power of social networks to raise funds for an individual, projects, and so on. It has been used to rebuild homes after disasters, send children to school, raise funds for expensive life-changing surgeries, etc. With so much at stake, it's important to choose the right crowdfunding platform that is dedicated to helping you accomplish your goals. As a fundraiser, your goal is to reach out to as many supporters as possible, and their safety should be a priority. In this article, we will go over the safety measures and practices crowdfunding companies put in place to keep you and your supporters safe.
A reliable crowdfunding platform provides organizers and donors with the tools and information they need to have a safe crowdfunding experience. If you’re not careful with the platform you choose to donate on, you may find yourself innocently funding a terrorist group through charity. In such a case, you can reach out to our criminal lawyer, Indianapolis, to help defend you in case of a criminal charge. But when you choose a platform that actively protects against any type of fraud, it guarantees that if contributions are misused, you can be guaranteed a refund.
If you are just starting out with crowdfunding, seek a company that ensures the safety of the beneficiary. One of the common concerns with crowdfunding is that the funds may end up in the wrong hands or sent to the wrong place. However, there are crowdfunding platforms that offer a beneficiary system where you can send the beneficiary a direct invitation to receive the funds. This feature makes supporters feel more comfortable because they know exactly where their donations are going.
PCI compliance, or payment card industry compliance, is a data security standard that crowdfunding companies use to ensure the card information or donors are maintained in a highly secure environment. However, companies subject to PCI DSS must be PCI-compliant, which is based on their annual number of transactions processed. There are four PCI reporting levels a payment brand can place an organization, which may include:
Level 1 - Over six million transactions per year
Level 2 – Between one and six million transactions per year
Level 3 – Between 20,000 and one million transactions per year
Level 4 – Less than 20,000 transactions per year
Additionally, crowdfunding companies use SSL technology to establish an encrypted and safe connection between the donor's web browser and their web server. SSL stands for Secure Socket Layer, and it helps to ensure donors transmit information, including payment information, securely from their devices to the crowdfunding website. You can tell a crowdfunding website uses SSL technology by looking for a small lock icon at the upper right corner of the web address on your browser app.
Finally, crowdfunding companies also have a specialized department called the trust and safety department that serves as the community protector and ensures the crowdfunding platform is safe for everyone. This team comes up with technologies and advances already existing technologies to keep people safe on the platform as well as prevent any possible crowdfunding fraud or scams.
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