Online fraudsters fleece UK etailers

Tut, tut, what do you expect?

Online crime pays, according to a report published today by Experian.

The global information solutions group claims nine out of ten efraudsters aren't caught and are simply getting away with it.

The survey reveals that when it comes to checking the authenticity of credit card transactions, many of Britain's etailers are lax.

The survey of 800 British etailers found that many online authentication systems were wanting and most relied on manual systems to check credit card details.

This is despite almost 60 per cent of etailers saying that the fear of Net crime is bad for consumer confidence.

Gareth Jones, head of fraud at Experian, said: "Etailers can do more with regard to customer authentication.

"The technology is out there but some people are just not using it," he said.

Last month police arrested three men for allegedly fraudulently trying to obtain money from online bank, Egg.

Earlier, Visa and Mastercard said they were tightening up their security procedures following a massive rise in card fraud last year.

According to the Association for Payment Clearing, fraudulent transactions worth £190 million were made last year, although only £4 million of this was thought to be Internet related. ®

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