/ Technology

Internet retail scams contributed to a rise in online fraud losses in 2009

Online fraud losses more than doubled in 2009, with scams related to online retail contributing to the problem, according to a report from the Internet Crime Complaint Center, a partnership between the FBI and the National White Collar Crime Center.

Posted 03/16/2010Zak StamborPost a comment

/ Technology

Retailers’ online fraud losses hit a record low, CyberSource says

Online retailers expect to lose only 1.2% of sales to fraud this year, the lowest percentage in 11 years, according to a new survey. E-commerce fraud will cost North American merchants $3.3 billion this year, down from $4 billion last year.

Posted 11/17/2009Zak StamborPost a comment

/ Technology

Web retailers cite botnets and fraud rings as biggest concerns about fraud

84% of respondents to a recent survey of online retailers by security technology and services firm 41st Parameter said they expect to see an increase in online fraud this holiday season. Fraud rings and data-stealing botnets topped the list.

Posted 12/11/2008Paul DemeryPost a comment

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Hackers stole more than 40 million payment card account numbers, U.S. says

In cases that go back years, a group of 11 U.S. and foreign computer hackers broke into the networks of nine retailers and stole information from more than 40 million payment card accounts, federal prosecutors have charged.

Posted 08/06/2008Paul DemeryPost a comment

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Accertify gets investment from Intel Capital

Accertify, a company that provides credit card fraud-prevention services to e-retailers, has received funding from Intel Capital, chipmaker Intel’s investment unit. Accertify did not disclose the amount.

Posted 06/06/2008Katie DeatschPost a comment

/ Technology

Online purchase fraud will rise through 2010, then taper off, Javelin says

2.3 million consumers were victims of fraudulent online purchases with their credit and debit cards last year, says Javelin Strategy & Research. That number will peak at 2.7 million in 2010, then trend downward as online merchants strengthen security.

Posted 05/23/2008Katie DeatschPost a comment