New technologies 'combat online fraud risk'

8 May 2009

Online shoppers are right to be wary of the increasing number of ways they can fall victim to fraud on the internet but a new generation of payment technology is helping to reduce the risk they face and make the web a safer place, an industry expert has said.

Nick Drew, director of ecommerce operations at online payment service provider ClickandBuy, said that while the internet providers criminals with a "more flexible means of committing fraud", many "savvy" shoppers know there are safe and secure payment options available.

According to research carried out by ClickandBuy, 84 per cent of adults believe the number of people attempting to commit online fraud has risen in line with the number of people using the internet.

Of the 32 per cent of people who do not regularly shop online, 54 per cent said it was because of concerns about potential security risk.

Nevertheless, another 41 per cent of regular online shoppers were confident that their card details are secure.

Mr Drew said the growing confidence reflects "shoppers and retailers starting to adopt technologies ... to combat criminals and protect against the risk of fraud".

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