E-commerce Fraud Loss is Biggest Half-Yearly Total Ever Recorded

The popularity of internet shopping has helped to push up the ecommerce fraud loss figure to the biggest half-yearly total ever recorded by Financial Fraud Action UK. Within the latest half-year total, e-commerce fraud loss is estimated to be £110 million, marking a 23% jump compared with the first six months of 2013.

Fraud is a massive and growing issue in the ecommerce space and fraudsters are getting more and more sophisticated in their methods of attack. To counter this increase in fraud it is imperative that retailers have substantial and effective anti-fraud measures in place such as Jumio’s Netverify.

Source: http://www.thecourier.co.uk/business/money-2.174/card-fraud-hits-record-174-5m-1.572580

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Jumio delivers the next-generation in identity verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience.