Fraudsters hold up e-commerce adoption

Consumers need reassurance before e-biz becomes e-whizz

Online security remains the main stumbling block to e-commerce, according to a new report from US e-business outfit CyberSource Corporation. Three quarters of those e-tailers questioned said sales would increase if consumers' fears about Net security could be allayed. A similar percentage said they expected that online fraud would increase in the run-up to Christmas. Forty-one per cent said they did not know that they were held financially liable when online fraud occurred, according to the survey published today. The survey comes hot on the heels of revelations that British online bank, Egg, has compromised customer security by publishing credit card details in unencrypted emails. In April, credit card company Visa said that despite the fact that Internet transactions accounted for only one per cent of its £463 billion turnover in the European Union, nearly half of all disputes were Net related. ®

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