Losses from online fraud decline

CyberSource commissioned Mindwave Research to survey 333 merchants in North America in October, reporting that retailers? losses from online fraud have declined over the years as a percent of overall online retail from 3.6% in 2000 to 1.7% this year. For 2002 the fraud level was at 2.9%, for 2001 at 3.2%.

Best practices for avoiding online fraud include Address Verification Service, manual review of orders, internal business rules, CV number, commercial scoring service and Verified by Visa program.

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