Recente persberichten

A survey conducted by 192.com Business Services has revealed that over 70 per cent of Internet retailers are failing to report fraud losses or fraud attempts, allowing Card-Not-Present (CNP) fraud to continue to rise[1].

According to the latest APACS data, CNP fraud losses cost the UK £212 million in 2006, up 74 per cent since 2003[2]. 192.com Business Services is warning that businesses’ reluctance to report fraud attempts means that a full-scale assault on the cause of the problem is being hindered. The ID fraud specialist terms this unreported fraud as ‘shadow fraud’.

Whilst government and law enforcement are currently working towards the creation of a national fraud reporting centre, 192.com Business Services is calling for retailers to contribute to a dedicated ‘Fraud alert’ prevention network that enables retailers to share fraud alert information as it happens. By making it standard business practice to disclose fraud attempts (and successes) as they occur, ecommerce merchants can help each other to prevent further fraudulent transactions by fraudsters who move from one retailer to another ‘maxing’ a card before it runs out.

[1] Research conducted in 192.com Business Service’s online fraud forum, July 2007

[2] APACS research, 2006 http://www.apacs.org.uk/

Citaat van executive

“Companies are under-reporting fraud for fear of looking bad, creating a whole wave of ‘shadow fraud’ that is preventing UK businesses from beating the fraudster,” said Keith Marsden, managing director at 192.com Business Services. “Our retail clients who use our identity check solutions to spot fraudsters have also been sharing fraud alerts through our online fraud forum. We’re not trying to name and shame, but it seems that some online companies are suffering in silence when we could be working together to beat the rising levels of Card-Not-Present fraud.”

Marsden continued: “Reporting fraudulent transactions is obviously a key step, but CNP fraud is fast moving and can be prevented now. With a national ‘fraud alert’ system, businesses can share information on the latest attempts, much like a shop assistant radioing other stores to alert them of a shoplifter working the area. Our experience shows that an overwhelming number of fraud attempts come from large ID theft rings. If we have this information and the technology, we should be working to make an immediate impact on preventing losses. As it is, reporting an offence after the fact barely takes place.”

Over het bedrijf

About 192.com Business Services
192.com Business Services is a leading provider of global online age and identity verification solutions to retail, finance, ecommerce and public sector organisations.

By aggregating a range of public and commercial datasets, including global postal address databases, global Directory Enquiry files, voter databases, credit reference files, and other commercial data , and innovative verification solutions, 192.com Business Services delivers the most comprehensive global online ID verification solution available.
192.com Business Services is a division of i-CD Publishing, publishers of the award winning public directory site, 192.com, and the UK-Info disk range.

Contactgegevens

For more information, please contact Alicia Gonzales or Sarah Crawford at LEWIS, the PR agency, at:
Tel: +44 (0) 20 7802 2626 Fax: +44 (0) 20 7802 2627
Email: aliciag@lewispr.com / sarahc@lewispr.com Web: http://www.lewispr.com

Technorati tags: fraud | e-crime |

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