Online shops 'don't understand' fraud risksMost online stores threatened by fraud, says poll
02 June 2009
Six in 10 online retailers don’t know whether they have payment card industry safeguards in place to protect online shoppers from fraud, says a new poll.
More than two thirds of online shops told a survey that they feel threatened by online payment fraud. Despite this, only a small proportion could demonstrate a clear understanding of the risks of running an online shop.
Which? has some top tips for protecting yourself when buying online – check out our free guide to buying online.
Online fraud risks
The findings of the survey, from payment service provider Sage Pay, show that almost two thirds of online shops don’t believe they’re personally responsible for covering payment fraud committed on their site.
And despite payment card industry safety standards being in place for almost five years, only about one third of stores in the survey understood what these are.
The Which? free guide on online shopping will help you if you have problems with any order you make when shopping online.
Online shops to grow business
Sage Pay said the findings make grim reading for businesses that intend to develop their online shops.
Managing director Simon Black said: ‘Where retailers adopt the recommendations of [industry safety standards], fraud screening and schemes such as Verified by Visa and MasterCard SecureCode, shopping online poses no more risk than payments made on the high street’
Despite the findings, three quarters of survey respondents said they intend to invest in their online business throughout 2009.
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© Press Association 2009