SecureTrading joins CNP fight

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SecureTrading joins CNP fight

Microscope contributor


There have long been high levels of frustration in the channel with the lack of apparent willingness by the banking and legal professions to tackle cardholder not present fraud.

The figures for CNP fraud continue to rise and the problem of leaving the reseller with the bill as a result of fraudsters is an all too common occurrence.

Various groups have attempted to lobby banks and police to change the situation, with the 3rd Man Group one of the most consistent, but the fight has been joined by SecureTrading, which is an Internet payment service provider that wants at least to stem the problems on line.

In an event organised by the vendor, David Blunkett MP, the former Home Secretary, said that a stand needed to be taken to protect traders: “If we don’t make a stand now this issue is liable to spiral out of control and will seriously damage the industry.”

In a statement, Jon Prideaux, deputy CEO of SecureTrading, said that the fight against fraudsters had to continue because they were adapting their methods to side-step existing measures designed to prevent them from scamming traders.

“These criminals are becoming increasingly sophisticated to overcome existing measures, so in response,” he added that it had introduced counter-fraud tools that would counter the threat.

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