Public fearful of online retail fraud

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Public fearful of online retail fraud

More than half of the UK public fear becoming a victim of online crime and do not believe online traders are doing enough to combat card fraud.

Just 17% of people believe online retailers are “doing a lot” to tackle fraud and identity theft, according to a study from fraud prevention firm eFunds Payment Solutions.

The ratings were better for banks, with 30% of those surveyed saying they were acting to prevent the problem.

Fear of fraud was particularly marked among younger consumers, with two-thirds of 25- to 34-year-olds expressing fears, the survey carried out by market research firm ICM showed.

But the research revealed that mail order purchasing was mistrusted almost as much as online shopping, with 52% and 53% respectively fearing fraud by these methods, while 63% felt vulnerable when ordering goods by phone.

The advent of chip-and-pin security at supermarket checkouts has also done little to boost confidence, with four out of 10 respondents saying they still felt vulnerable to fraud.

Alan Smith of eFunds Payment Solutions said,“This is a big challenge for the whole e-commerce industry, from card issuers to banks and retailers to the police. Fraudsters share information and ‘best practices’ and the e-commerce industry needs to do the same if they want to protect the public and ultimately their profits.”


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