Advertisement

Report: Online Fraud Down but Avg. Value Up

Sept. 15, 2011

For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study commissioned by LexisNexis Risk Solutions. According to the study, conducted by California-based Javelin Strategy and Research, while fraud rates and the number of fraudulent transactions are in decline, the average dollar value of a completed fraudulent transaction is higher than last year, indicating the nature of transactions is becoming more severe. “It is true there has been industry progress in fraud mitigation, however fraud continues to cost retail merchants over $100 billion annually and consumers are feeling the increased affects of fraud,” says Jim Rice, director of market planning for retail and e-commerce markets, LexisNexis Risk Solutions. “While e-commerce, mobile payments and international commerce provide the retail industry with the most growth opportunities, they also present the greatest challenge to fraud prevention.” The study surveyed more than 1,000 risk and fraud decision-makers and influencers. The full report is available at http://www.lexisnexis.com/risk/2011FraudStudy.



Advertisement


  • Apple Pay Coming to Websites - June 14, 2016
    Apple Pay Coming to Websites

    Apple Senior Vice President Craig Federighi announced during the company's Worldwide Developers Conference that consumers will be able to use Apple Pay to make online purchases through the Safari browser on iPhones, iPads and Macs before the holiday shopping season this year.

  • House Republicans Move to Repeal Dodd-Frank, Durbin Caps - June 9, 2016
    House Republicans Move to Repeal Dodd-Frank, Durbin 

CapsIn a speech on Tuesday, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said he will introduce legislation this month called the Financial CHOICE Act repealing parts of the controversial Dodd-Frank Act, including the cap on interchange banks can charge on debit transactions.
  • Trulioo Authenticates BRIC - May 24, 2016
    Trulioo Authenticates BRIC

    Vancouver, Canada-based Trulioo today announced its primary verification solution now is authenticating identities throughout the BRIC countries (Brazil, Russia, India and China).

  • MCX on the Ropes, Postpones CurrentC Rollout - May 19, 2016
    MCX on the Ropes, Postpones CurrentC Rollout

    Only a day after Walmart announced plans to launch a pilot for its in-store mobile payment system Walmart Pay in 110 Arkansas stores, the Merchant Customer Exchange (MCX) and its CurrentC mobile payment app appear to be struggling for survival.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here