Feeds

Internet is best place to use credit cards

Luddite Cassandras take note and shut up

  • alert
  • submit to reddit

3 Big data security analytics techniques

Well after months and months of poorly researched and hysterically hyped stories on how the Internet was a den of credit card fraud, new figures show that actually the Internet is a pretty good place to flash the plastic.

Yes, credit card fraud stepped up from £2 million to £7 million last year but considering the huge increase in people online and the fact that this is but a drop in the ocean of the annual £300 million taken by fraud, then the Internet is beginning to look like a quite a safe place to buy your goods.

Estimates abounded last year that Internet fraud would rocket and this was backed up with surveys of people answering "yes" to the question "are you worried that if you put your credit card details on the worldwide Web that someone may steal them?"

However, according to the Association for Payment Clearing Services and theFT, the Internet is a minor problem when compared to organised crime counterfeiting credit cards. This accounts for £103 million of the overall £300 million total and has doubled since 1999.

Old-fashioned theft from envelopes stands at just £3 million. Also, apparently half of the overall online fraud came from Caribbean porn sites misusing credit cards details. But would you believe it, only one per cent of official fraud complaints stem from "adult services". Isn't that incredible? ®

Related Stories

SEC in Internet fraud crackdown
Online auctions top Net fraud complaints list

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.