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E-tailers totally unaware of fraud responsibilities


An independent fraud survey completed by Euromonitor Consultancy on behalf of CyberSource Corporation highlighted that around 39% of e-businesses questioned did not know that they were financially liable for fraudulent online purchases.

Other findings included that 58% were concerned about online fraud whilst another 56% believed that this was the main reason for discouraging shoppers from purchasing online.

This survey also indicated that fraud is a significant factor that affects online retailing and the fact that many retailers did not even know they were financially liable for fraudulent online purchases was rather disturbing. This shows that retailers as well as the public are still inadequately informed about the repercussions of credit card fraud on the internet.


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