Feeds

Internet fraud on increase

Half of complaints to Visa Net related

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Internet fraud is on the increase and could severely impede the development of e-commerce unless action is taken to stamp it out, according to a report in the Financial Times. If left unchecked, the already fragile consumer confidence in e-commerce could disintegrate even before this much-heralded business revolution has even had time to get going. Visa has said that despite the fact that Internet transactions account for only one per cent of its £463 billion turnover in the European Union, nearly half of all disputes are Net related. These range from financial fraud to complaints that goods were not delivered in time. The report in the Financial Times coincides with news that a group of banks, including ABN Amro, Barclays, Deutsche Bank and Chase Manhattan, intends to offer e-tailers financial guarantees. The joint venture, called Identrus, would guarantee the identity on an e-business trading on the Net and would also include some kind of financial security. "Unless you have an electronic identity and the ability to trust the holder and signer of that identity, e-commerce can't take place," said Guy Tallent, president and CE of Identrus, speaking to the Financial Times. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.