|Don's Home Web Credit Card Fraud||Contact|
Consumer fraud against retailersAccording to an 2002 Gartner Survey,
"Credit card fraud causes e-tailers to lose about 1% of their transaction volume and sales revenue, while e-tailers reject 6% of consumer purchase requests because they appear suspicious. Gartner analysts note that 6% of sales equals $950 million in revenue for the fourth quarter alone.
The e-commerce leaders surveyed admitted that they mistakenly reject about 2% of total sales, costing them $315 million in sales."
Internet fraud rates are about 10% higher than brick-and-mortar rates.
Many cases are from stolen credit card numbers.
See: Online fraud growing - Dec. 2002 InternetNews article Online Fraud Prevention Tips at AntiFraud.com