Online merchants will lose $2.8B due to cyberfraud this year
ONLINE retailers will end up losing $2.8 billion globally this year thanks to online fraud, according to a survey by electronic payment and risk management company CyberSource.
The $2.8 billion figure is 8% higher than last year, CyberSource said.
The survey found that companies with annual online revenues of between $5 million and $25 million are being hit the hardest. Those companies saw online fraud losses rise from 1.5 percent of their revenue in 2004 to 1.8 percent of their revenue this year.
posted by Fergie @ 11/14/2005 06:39:00 AM
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