Daresbury, UK, September 8th 2005 - Findings from the latest study from leading fraud prevention provider eFunds Payment Solutions (www.efunds.com), formerly ClearCommerce Corporation, shows that the British public believe online merchants are not doing enough to combat card fraud. Only 17% feel online retailers are “doing a lot” to tackle the problem at a time when concern about Internet scams, such as phishing and identity theft, is rife. Banks are seen to be doing the most in the fight against online crime but no more than 30% of people feel they are championing the cause.
The research, run by ICM (www.icmresearch.co.uk) on behalf of eFunds, highlights that over half the British public (53%) are concerned about becoming a victim of online crime, with 66% of 25 - 34 year olds, the prime market for many online retailers, particularly worried. Unease was felt across the UK with the North East expressing the most concern (64%) and the South West the least (47%).
Alan Smith, eFunds Payment Solutions, comments: “Ensuring the security of online payments is fundamental to the continued success of e-Commerce. If people don’t feel safe, they won’t shop online. This is a big challenge for the whole e-Commerce industry, from card issuers to banks and retailers to the police. There is no getting away from the fact that fraudsters are always looking for ways to scam the public and the constant challenge of finding tools to combat confidence tricks will continue.
“It’s essential that organisations understand where fraud is coming from and how to tackle it so they can stay ahead of the curve. Fraudsters share information and ‘best practices’ and the e-Commerce industry needs to do the same if they want to protect the public and ultimately their profits.”
ICM Research interviewed a random sample of 1014 adults aged 18+ by telephone between 24-26 May 2005. Interviews were conducted across the country and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules. Further information at www.icmresearch.co.uk
eFunds Corporation is an industry leader with nearly 30 years of experience and expertise in electronic payments and risk management. eFunds offers electronic funds transfer software and processing, risk management and related outsourcing solutions to financial institutions, electronic funds transfer networks, retailers, telecommunications providers, and government agencies around the world. Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers.
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