Posts tagged with Cyber Source

Online retailers saw an increase in fraud last year

The UK's online retailers experienced a rise in the number of bad orders last year, with an average of 1.9% of orders turning out to be fraudulent.

This is the headline finding from Cybersource's UK Online Fraud Report, which surveyed 200 etailers about the incidence of fraud and the challenges of fraud management. 

I've been asking the report's co-author Dr Akif Khan about the issues facing the UK's online retailers as they attempt to combat fraud.

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Online retailers see fraud as a major threat - report

57% of merchants see online fraud as the greatest threat to their business, while they expect to lose an average of 1.8% of their income to fraud.

This is one of the findings from Cybersource's 2010 UK Online Fraud Report, which surveys consumers and retailers about how fraud affects their business and shopping habits.

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Online retailers afraid of payment fraud: survey

Two-thirds of online retailers say they feel threatened by payment fraud, something which threatens to hold back e-commerce growth in the UK. 

The stats come from payment provider Sagepay, which surveyed 1,000 retailers, also revealed a lack of awareness of what they need to do to meet the industry standards (PCI DSS) on payment security. 

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CyberSource: online fraud burdening UK merchants

According to CyberSource Ltd., the UK subsidiary of electronic payment provider CyberSource Corporation, online fraud is a growing challenge for online businesses in the UK.

Although the total rate of fraud increased by 'only' 2.6%, one in 8 online merchants in the UK are now losing 5% or more of their online revenue to fraud and 37% lose at least 1%. All told, more than 40% of the merchants surveyed as part of CyberSource's 5th Annual Fraud Report saw fraud levels increase online last year.

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