|
Trade News Archive 2009 January February March April May June July August September October November December
Subscribe to our newsletter Go to The Wholesaler UK Directory
26th January 2010
Retailers suffer at hands of fraudsters
The amount of money lost in the retail industry to fraud has increased, it has been revealed.
That is according to a report from CyberSpace, which indicates that while the number of fraudulent transactions has stayed the same, the value of the average payment has increased, according to IT Pro.
Consequently, while the e-retail industry has not suffered from a surge in fraudulent crime, it has incurred heavier losses than before.
Dr Akif Khan, author of the report, said it was imperative that the industry better protect itself against fraudsters by using up-to-date techniques and technology.
He told the news provider: "Merchants need to get a lot smarter. There needs to be a balance of both automated and manual [fraud checks] for the process to work."
However, he went on to say that while 69 per cent of e-shops believe online revenue will grow in the coming 12 months, 67 per cent do not think they will increase the size of their manual review teams.
© 2010
Comment on this news story
Trade News Archive 2008 December November October September August July June May April March February January
|
