Feeds

Online fraudsters fleece UK etailers

Tut, tut, what do you expect?

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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. ®

Internet Security Threat Report 2014

Whitepapers

Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.