Fergie's Tech Blog

Online Merchants Concerned Over Increase In Credit Card Fraud

Larisa Redins writes on ReveNews:

Fraud definitely is on the minds of online merchants this season. In fact, a survey sponsored by the Merchant Risk Council (MRC) conducted by the 41st Parameter Inc., revealed that 84% of the respondents believed that there will be a slight or substantial increase in online fraudulent activity this holiday season.

When asked about some of the largest challenges in fighting this type of fraud, two-thirds of the respondents stated that the increase in fraud ring activity and botnets (computers used to commit eFraud) are of utmost concern. Further, a full 30% of the respondents stated that a lack of money for the technology to fight online fraud is another formidable challenge.

posted by Fergie @ 12/09/2008 06:40:00 PM