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Surprise fall in fraud rate as on-line buying rockets
With Christmas shopping on the web up by a massive 40%,the corresponding level of card fraud actually tumbled.
According to Early Warning, record on-line sales this Christmas were pretty accurately predicted - but a proportionate drop in fraud was not.Managing Director Andrew G
As the number and value of sales has risen so sharply, fraud - as a proportion - is definitely down.I am encouraged by these figures and hope this is not just a blip but the start of a downward trend for internet card fraud.
The reason for this drop is I believe is the increased awareness of internet merchants of the fraud risks they face and they have measures in place to detect the fraudulent attempts. Merchants however should not be complacent, and should be looking for ways to keep this downward trend for the year to come.
With regard to consumers safety, we have always said that if the consumer is sensible and chooses a retailer carefully, it usually is safe to shop on-line and make the most of all the advantages the internet has to offer. Retailers have a big part to play in instilling confidence in to the consumer, by making sure they are 100% legal and abiding by all the e-comerce regulations. Which I am afraid to say most are not."
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