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CyberSource Surveys of eCommerce Fraud Show Mixed Picture

CyberSource_logo-140px.jpgCyberSource has announced the results of its annual surveys of eCommerce fraud in North America and the U.K.

In the U.S. and Canada, online merchants say their 2010 fraud rate remained at 0.9% for the second straight year. U.K. merchants, on the other hand, say their fraud rate rose from 1.6% in 2009 to an average of 1.9% in 2010—twice the rate seen by U.S./Canadian merchants. CyberSource experts point to a number of likely causes for this development in the U.K., ranging from the greater incidence of cross-border eCommerce within the European region to “fraud migration” in which fraudsters, facing stiff challenges in one location, simply direct their efforts elsewhere, including the U.K.
In related news, the CPP Group has released their Card Fraud Index for the UK saying that card fraud affects a quarter of the adult population.

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