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Article: Online fraud loss up 37% from last year.(News Front)
- Article from:
- Household & Personal Products Industry
- Article date:
- December 1, 2004
CopyrightCOPYRIGHT 2004 Rodman Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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U.S. merchants lost an estimated $2.6 billion to online fraud in 2004, a 37% increase over the 2003 estimate, according to a study released by CyberSource Corporation. The rate of fraud as a percentage of online revenues has not increased from last year, but an increase in online sales leads to an increase in fraud losses. This year's losses are estimated at $700 million more than in 2003.
Mid-range companies with annual online revenues between ...