internetretailer:24% network retailer says fraud rate is up

The Internet retailer published a recent survey of online payment trends in August 2011, and the results showed that over the past year, 24.3% of respondents said http://www.aliyun.com/zixun/aggregation/ 36886.html "Fraud rates on online transactions rose, 12.6% said fraud rates were down and 63.1% said fraud rates were flat.

68.8% of the respondents were network-only businesses, and the rest came from chain retailers, catalogues and consumer-branded manufacturers. 50% of respondents reported net sales of less than $1 million a year, 22.3% between 1 million to 5 million dollars, and nearly 10% said their net sales over 50 million dollars a year.

To prevent fraud, most retailers will manually check for seemingly suspicious transactions because of the high rate of online fraud in the source area or IP address of these suspicious transactions, or some other dubious characteristics. 43.6% of respondents will manually check for more than 20% transactions, 9.1% will manually check the 16%-20% transaction, 6.4% will manually check 11%-15% of the transaction, 10.9% will manually check 6%-10% of the transaction, 30% will manually check 5% below the transaction.

The respondents also provided their online fraud rates:

"Retailers must continue to find ways to create a secure online experience that protects the transaction process and consumer information after the transaction," said Souheil Badran, Digital River World Payments Senior Vice president and general manager. Retailers are starting to turn to the payment page for host identification, which helps them avoid processing identifiable consumer information. One growing trend is the use of tagged technology to hide confidential account information. ”

The technology of tagging changes the consumer's payment card information to random code, so that even if the offender steals the data, they cannot use it to commit fraud.

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