6683 0 3 econsultancy_xml <p>With the problem believed to be costing UK etailers around £594.5m a year in lost revenue, 30% of respondents also called for government funding to help develop more robust anti-fraud measures.</p> <p>The report said difficulties in gathering evidence and the broad scope of the 2006 Fraud Act are made it harder to secure tough penalties for cyber criminals.</p> <p>Despite the concerns, 44% of respondents thought cyber fraud would only have a marginal impact on the sector's future. </p> <p>But a third said it would continue to result in some customers limiting their spending to more established sites - highlighting a need for ‘fraud free’ payment methods to encourage internet users to shop on smaller sites. </p> <p>Two thirds of retailers said they had witnessed some increase in levels of online fraud over the past year and all had bolstered their security in some way.</p> <p>Forty eight percent had already <a href="/blog/1692-online-verification-schemes-see-increased-adoption">adopted the Verified by Visa and Mastercard Securecode authentication systems</a> or were planning to do by the end of the year. </p> <p>Andrew McClelland, director of projects and marketing at the IMRG, said: </p> <blockquote> <p> <em>“Retailers are doing their utmost to tackle e-fraud and have been quick to adopt any anti-fraud measures they can put in place without damaging the customer journey. </em> </p> <p> <em>"But they need more support from government in the shape of tighter and tougher penalties and backing for anti fraud innovations which do not detract from a seamless sales process.”</em> </p> </blockquote> <FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph>With the problem believed to be costing UK etailers around £594.5m a year in lost revenue, 30% of respondents also called for government funding to help develop more robust anti-fraud measures.</Paragraph> <Paragraph>The report said difficulties in gathering evidence and the broad scope of the 2006 Fraud Act are made it harder to secure tough penalties for cyber criminals.</Paragraph> <Paragraph>Despite the concerns, 44% of respondents thought cyber fraud would only have a marginal impact on the sector's future. </Paragraph> <Paragraph>But a third said it would continue to result in some customers limiting their spending to more established sites - highlighting a need for ‘fraud free’ payment methods to encourage internet users to shop on smaller sites. </Paragraph> <Paragraph>Two thirds of retailers said they had witnessed some increase in levels of online fraud over the past year and all had bolstered their security in some way.</Paragraph> <Paragraph>Forty eight percent had already <Link URL="/blog/1692-online-verification-schemes-see-increased-adoption" Window="Self">adopted the Verified by Visa and Mastercard Securecode authentication systems</Link> or were planning to do by the end of the year. </Paragraph> <Paragraph>Andrew McClelland, director of projects and marketing at the IMRG, said: </Paragraph> <Block> <Paragraph> <Quote>“Retailers are doing their utmost to tackle e-fraud and have been quick to adopt any anti-fraud measures they can put in place without damaging the customer journey. </Quote> </Paragraph> <Paragraph> <Quote>"But they need more support from government in the shape of tighter and tougher penalties and backing for anti fraud innovations which do not detract from a seamless sales process.”</Quote> </Paragraph> </Block> </FormattedContent> 2007-10-15T12:04:00+01:00 0 1 econsultancy_xml <p> <strong>Online retailers want the government to introduce stiffer penalties for convicted online fraudsters, according to a new study.</strong> </p> <p>Two thirds of retailers questioned in the survey, carried out by prepaid voucher provider <a href="https://www.3v.ie/index.html">3V</a> and the IMRG, said that harsher punishments would be the single most effective way to combat internet fraud.</p> <FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph> <Emphasis>Online retailers want the government to introduce stiffer penalties for convicted online fraudsters, according to a new study.</Emphasis> </Paragraph> <Paragraph>Two thirds of retailers questioned in the survey, carried out by prepaid voucher provider <Link URL="https://www.3v.ie/index.html" Window="Self">3V</Link> and the IMRG, said that harsher punishments would be the single most effective way to combat internet fraud.</Paragraph> </FormattedContent> false 1843 <p>Related Econsultancy reports include our <strong><a href="http://econsultancy.com/reports/e-commerce-platforms-buyer-s-guide-2009">E-commerce Platforms Buyer's Guide</a></strong>, <strong><a href="http://econsultancy.com/reports/delivering-successful-e-commerce-projects">Delivering Successful E-commerce Projects</a></strong> and <strong><a href="http://econsultancy.com/reports/online-retail-2007-checkout-special">Online Retail Checkout Special</a></strong>. See also the <strong><a href="http://econsultancy.com/reports/e-commerce-statistics">E-commerce Statistics Compendium</a></strong>.</p> <p>Related Econsultancy reports include our <strong><a href="http://econsultancy.com/reports/e-commerce-platforms-buyer-s-guide-2009">E-commerce Platforms Buyer's Guide</a></strong>, <strong><a href="http://econsultancy.com/reports/delivering-successful-e-commerce-projects">Delivering Successful E-commerce Projects</a></strong> and <strong><a href="http://econsultancy.com/reports/online-retail-2007-checkout-special">Online Retail Checkout Special</a></strong>. See also the <strong><a href="http://econsultancy.com/reports/e-commerce-statistics">E-commerce Statistics Compendium</a></strong>.</p> 364411 Retailers call for harsher fraud punishments false 2007-10-15T12:04:00+01:00 retailers-call-for-harsher-fraud-punishments 2009-04-28T22:59:50+01:00 2009-10-13T09:22:04+01:00 381