November 24th, 2003
Losses from online fraud decline
CyberSource commissioned Mindwave Research to survey 333 merchants in North America in October, reporting that retailers’ losses from online fraud have declined over the years as a percent of overall online retail from 3.6% in 2000 to 1.7% this year. For 2002 the fraud level was at 2.9%, for 2001 at 3.2%.
Best practices for avoiding online fraud include Address Verification Service, manual review of orders, internal business rules, CV number, commercial scoring service and Verified by Visa program.
Alex is a software engineer in the San Francisco Bay Area. ITFacts is created and updated by a group of statistics-obsessed individuals.
Subscribe to IT Facts via Email alerts or RSS.
