Dabs joins Ethoca anti-fraud community
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 >>
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