Report: Few French E-Tailers Track Mobile Fraud
June 24, 2013
Antifraud technology provider CyberSource recently undertook a survey of French companies examining the opportunity for the country’s e-commerce sector and how it should be attacking online fraud. Nearly half of the merchants surveyed have a mobile-optimized Website or app, but less than half of those companies track the mobile channel for fraud. Ninety-four percent of French e-commerce businesses manually review all suspect transactions and more than two-thirds of those transactions ultimately are accepted. CyberSource said these findings, and others, show a major opportunity in France for e-commerce merchants to cut costs due to fraud by taking a more holistic, end-to-end view of their fraud management processes.
“CyberSource advises merchants to optimize risk management practices as part of their e-commerce expansion strategy,” the company said in its report. “Improving automated screening, and using a combination of channel-optimized technologies, including more sophisticated validation and verification tools” would help to “identify genuine customers faster, irrespective of their device or location, while identifying emerging fraud tactics more easily.”
The report also noted a number of respondents were not able to supply key metrics, including review rate. CyberSource said that inability makes it difficult for them to understand the complete risk management picture and subsequently optimize their operations.