E-Commerce Credit Card Fraud

An interesting case study on e-commerce credit card fraud in US.

According to Celent Communications, an international consultancy group, the United States alone faces US$3.2 billion of online credit card fraud by 2007.

Results from various surveys and reports were discussed such as:

• nine out of ten Americans want their banks to monitor their online accounts for suspicious behavior
• 79 percent surveyed said they were less likely to respond to e-mail from their bank because of worry over phishing scams

Company: US Digital Media
Problem: US Digital Media lost upwards of $200,000 due to e-commerce credit card fraud
Solution: Automated Fraud Prevention

Full story is here.