Retailers concerned by the safety of online shopping platforms have little to worry about. According to a new survey by CyberSource, the online fraud rate hit a 13-year low in 2011, declining from 0.9 percent in 2010 to 0.6 percent.<\/p>\n
While fraudsters didn't manage to steal as much, they were more prone to target big-ticket items. In fact, total dollar values were up – criminals stole approximately $3.4 billion from U.S. and Canadian e-tailers last year, an increase from the $2.7 billion pilfered in 2010. Luxury good sellers should take note and ramp up security on their ecommerce platforms.<\/p>\n
"The continued growth in ecommerce is a welcome development for merchants and the economy overall," says Andrew Naumann, CyberSource's senior business leader for fraud management solutions. "The bad news is that fraudsters took in a higher dollar volume, the first such increase we've seen since 2008."<\/p>\n
Given the rampant growth of ecommerce – more than $35 billion was spent over November and December 2011 alone – it's vital that retail brands have some sort of online shopping platform in place. They just need to look out for suspicious activity to avoid being scammed.<\/p>\n","protected":false},"excerpt":{"rendered":"
Retailers concerned by the safety of online shopping platforms have little to worry about. Continue reading