Internet card fraud is down
January 11, 2007 by admin
Filed under News, News-Credit-Cards
Internet card fraud fell during the Christmas period, despite a huge increase in the number of online transactions.
Figures from internet fraud-prevention specialists Early Warning show that although shopping on the net increased by 40 per cent, fraud fell.
The data has caused widespread surprise in the industry as many figures expected to see online credit card fraud increase with the number of internet shoppers.
“This is really an unexpected and encouraging first in internet fraud statistics,” said Andrew Goodwill, managing director at Early Warning.
“As e-commerce goes on rising, we are used to corresponding increases in fraudsters’ activities to capitalise on it.”
Mr Goodwill went on to say that he believes increased awareness among consumers about the dangers and safety measures associated with the internet had been a big contributing factor.
“I am encouraged by these figures and hope this is not just a blip but the start of a downward trend for internet card fraud,” he added.
