Gartner Inc., the research and advisory company, reports that a combination of fraud and suspect transactions could cost e-tailers in the US almost $500 million.
The revelation comes despite the fact that there have been increased efforts to prevent online fraud.
"E-tailers report that fraud attacks are becoming more sophisticated, frequent, and menacing in nature," said Avivah Litan, vice president and research director for Gartner. "Despite efforts to curb online fraud, the rate of fraud has stayed constant at 1 percent since mid-2000."
Etailers believe that credit cards companies aren’t helping them enough to verify transactions. "Major online fraud losses are not going away," said Litan. "E-tailers mainly have to rely on their own resources to survive increasingly malicious fraud attacks.”
The revelation comes despite the fact that there have been increased efforts to prevent online fraud.
"E-tailers report that fraud attacks are becoming more sophisticated, frequent, and menacing in nature," said Avivah Litan, vice president and research director for Gartner. "Despite efforts to curb online fraud, the rate of fraud has stayed constant at 1 percent since mid-2000."
Etailers believe that credit cards companies aren’t helping them enough to verify transactions. "Major online fraud losses are not going away," said Litan. "E-tailers mainly have to rely on their own resources to survive increasingly malicious fraud attacks.”
- KC's View:
- The good news is that the channel seems to be booming this holiday season…so into each life, a little rain must fall.
