Net is a fraud haven

And 62 per cent of cyberspace doesn't care

Despite every netizen and their dog trying to expand their corner of cyberspace, 62 per cent of organisations on the Web use no anti-fraud measures.

So claims a survey by SAS Institute, which indicates that the retail, telecommunications, finance and public sectors are all apathetic when it comes to protecting themselves and their users against online scamsters.

And while 84 per cent of those quizzed felt the Net was not secure, 72 per cent said they would continue to pump cash into their sites as they believed the benefits outweighed the risks.

One fifth of managers responsible for fraud protection in the UK said they felt the subject was not given a high enough priority at board level.

Most of outfits surveyed were worried about attacks from customers or the public - 92 per cent cited this concern, while 90 per cent were worried about fraud from staff. Around 80 per cent voiced concerns over the threat from other companies and subcontractors.

Meanwhile, 34 per cent believe fraud has little impact on their bottom line and are unwilling to dip into cash reserves to fight the problem. Much to the disappointment of SAS, which makes anti-fraud software, just 36 per cent said they planned to introduce new fraud measures in the next year. ®

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