January 11 2007

Internet card fraud falls as online shopping rockets

Bank card fraud did not increase at the same level as online sales this Christmas, according to internet fraud-prevention specialists Early Warning.

As the number and value of sales has risen sharply, fraud - as a proportion - is definitely down, said Early Warning. Managing Director Andrew Goodwill is encouraged by these figures and he hopes this is not just a blip but the start of a downward trend for internet card fraud. His thoughts are in line with fraud figures for first six months of 2006, released by payments association APACS (and reported previously).

Goodwill believes that the reason for this drop is the increased awareness of internet merchants of the fraud risks they face and that many have measures in place to detect the fraudulent attempts. "Merchants however should not be complacent and should be looking for ways to keep this downward trend for the year to come," he added.

Emma Herrod