CyberSource has announced results of its 13th annual survey of eCommerce fraud based on an independent survey of hundreds of online merchants.
The overall picture: merchants are making gains against fraud but the battle continues. The fraud rate by order (the percentage of orders that turned out to be fraudulent) dropped from 0.9% in 2010 to 0.6% in 2011—the lowest in the 13 year history of the survey. But the cost of combatting fraud continues to grow. Dollar losses were up, manual review continued to climb, and merchants reiterated their concern that fraud is becoming more difficult to detect. 27% of respondents said they are engaged in mobile commerce and initial indicators regarding fraud in that channel are promising.
To obtain a copy of the survey results please visit http://www.cybersource.com/fraudreport2012.