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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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