Instantly delete email threats for Office 365 » Free Offer
Welcome Guest | Sign In
Deliver winning CX every time
E-Commerce Times TechNewsWorld CRM Buyer LinuxInsider

E-Commerce Times Talkback

ECT News Community   »   E-Commerce Times Talkback   »   Re: Report: E-Commerce Fraudsters' Haul May Reach $3.6B in 2007

Re: Report: E-Commerce Fraudsters' Haul May Reach $3.6B in 2007
Posted by: Erika Morphy 2007-11-20 07:52:29
See Full Story

It is becoming increasingly unsafe to buy or otherwise conduct business online, according to the ninth annual CyberSource survey on e-commerce fraud. Fraudsters will divert approximately $3.6 billion from U.S. e-commerce in 2007, a 20 percent increase over 2006, based on survey results. Merchants are working aggressively to hold back the tide. Their various online security products and related best practices are keeping the fraud rate stable, notes CyberSource. Still, it's requiring the expenditure of more resources to keep fraudsters at bay.

Re: Report: E-Commerce Fraudsters' Haul May Reach $3.6B in 2007
Posted by: Volusion 2007-11-20 08:00:33 In reply to: Erika Morphy
Merchants often do not take the steps to protect themselves against hackers. The major credit card companies have set standards for hosting credit card information. Although it is expensive to set up a PCI/CISP certified hosting environment, it protects merchants from being fined or blackballed from accepting credit cards all together.
This trend of internet fraud could go down if merchants either took the steps to get PCI/CISP certified or chose to host with a company that is.
Michelle Greer
Jump to:
How important is social media to the success of your business?
Highly -- Social media is essential to our business model.
Somewhat -- We do see benefit from social media, but without it our operations would continue.
Minimally -- We're on social media because that's expected, though it's influence on our success is negligible.
Not at All -- Social media is not useful to our business.