BT online gadget shop
Dabs.com has joined the
Canada-based
Ethoca community to reduce the risk of fraud associated with
its £200m turnover from 5,000 transactions a day.
Ethoca, in which Royal Bank of Scotland has an interest, enables
members to share information on transactions. This is fed into a
system that assesses the risk of an online transaction. Ethoca says
this allows online merchants to refuse fewer good risks and boost
their sales.
According to
Verdict Research,
online spending in the UK rose 35% to £14.7bn last year.
Apacs, the UK payment association, said card-not-present fraud
from phones, internet and mail order transactions was £295m in
2007. This figure was up 25% year on year, driven by a £90m rise in
offshore fraud.
Online fraudsters turn to cards >>