Ecommerce revenues rise but so do fraud fears


Ecommerce revenues rise but so do fraud fears

Simon Quicke

Ecommerce specialists have expressed fears that their fraud budgets are remaining stagnant in the face of inctreasing attempts by criminals to short change them.

According to the latest research from CyberSource, a Visa company, 59% of etailers surveyed expect fraud budgets to remain the same as last year although 10% are braced for a cut.

Although criminal activity is expected to increase so to is the revenue that merchants anticipate raking in this year.

"Merchants' 2011 ecommerce growth predictions are certainly encouraging. However, as organisations look to drive more online revenue, it is vital that they address any vulnerabilities to protect themselves from fraud," Dr Akif Khan, co-author of the Fraud Report and director, product and services at CyberSource.

"With the majority of merchants not allocating any additional budget to manage the issue, businesses should focus on designing sustainable strategies that not only reduce fraud losses, but streamline the entire process," he added.

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