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Merchant Concern About
Online Credit Card Fraud
Rises Significantly
November 26, 2001 --
Mountain View, CA: Online credit card
fraud continues to be a growing concern, and
online merchants are taking more precautions than
ever before, according to results of the just
completed 2001 Online Fraud Report.
The survey - sponsored by
CyberSource Corporation, a leading provider of
risk management and electronic payment solutions,
and independently conducted by Mindwave Research
- reveals that 65 percent of respondents are
taking more precautions this year than last to
prevent online fraud. Results also show that
businesses selling online have a better
understanding of who bears the financial rish
when online fraud occurs - the merchants
themselves.
Other results:
41% of merchants
say the issue of online credit card fraud
is "very serious" to their
business
57% cited loss of
revenue as most significant negative
business impact related to fraud,
followed closely by loss of staff time
and loss of customer goodwill
73% cited
inability to accurately detect fraud as
key concern
To find out more about
implementing risk management solutions at your
company, contact 1-888-330-2300 or visit the
CyberSource website at http://www.cybersource.com
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