Comments on: On line credit card fraud is going to soar http://www.merchant911.org/blog/index.php/2008/10/21/on-line-credit-card-fraud-is-going-to-soar/ Comments on credit card fraud from the E-Commerce Merchant point of view by Tom Mahoney, Founder and Director of Merchant911.org Fri, 13 Jan 2012 06:40:43 +0000 hourly 1 http://wordpress.org/?v= By: Tom Mahoney http://www.merchant911.org/blog/index.php/2008/10/21/on-line-credit-card-fraud-is-going-to-soar/comment-page-1/#comment-1515 Tom Mahoney Wed, 22 Oct 2008 00:58:27 +0000 http://www.merchant911.org/blog/?p=166#comment-1515 <b>@ Ben</b>: That's the beauty of Payer Authentication - Verified by Visa and Secure Code by MasterCard. They shift the liability of "friendly fraud" back to the issuer where it belongs. @ Ben:

That’s the beauty of Payer Authentication – Verified by Visa and Secure Code by MasterCard. They shift the liability of “friendly fraud” back to the issuer where it belongs.

]]> By: Ben http://www.merchant911.org/blog/index.php/2008/10/21/on-line-credit-card-fraud-is-going-to-soar/comment-page-1/#comment-1514 Ben Tue, 21 Oct 2008 23:49:45 +0000 http://www.merchant911.org/blog/?p=166#comment-1514 Don't you get it? They don't care about rounding up the crooks. They have no liabilty, so why would they devote resources to that effort? Shift the liability to the bank or the association and they'd take your phone call in two seconds -- and actually do something with the information. Don’t you get it? They don’t care about rounding up the crooks. They have no liabilty, so why would they devote resources to that effort? Shift the liability to the bank or the association and they’d take your phone call in two seconds — and actually do something with the information.

]]> By: James Jones http://www.merchant911.org/blog/index.php/2008/10/21/on-line-credit-card-fraud-is-going-to-soar/comment-page-1/#comment-1513 James Jones Tue, 21 Oct 2008 16:08:56 +0000 http://www.merchant911.org/blog/?p=166#comment-1513 Hi Tom I agree completely and have noticed a huge increase in my online fraud stats. I used to run at about 3% of TO of CNP fraud. Over the last 12 months this has increased to 5% with the last 3 months seeing an increase to about 6%. I have noticed a trend, which in the UK is rather worrying especially as most of my customers are stateside. The trend which is hitting us more and more now is cyber shoplifting. People who order goods and check out completely, they get the goods then claim they have not recieved them. EVEN though most of these high ticket items are sent FEDEX they simply say "not my signature" and thats it, the bank gives them my money. Until the delivery companies are prepared to offer a service of ID Verification for online companies then this will continue to happen. I need FEDEX or UPS to offer a full blown ID verification upon delivery service. I would gladly pay for this service, but thats the weakest link. And unless anyone has any ideas these people will continue to rip us off with zero comeback. Cyber Shoplifting thats the frightening thing for me as no matter how much I check someone out, all they have to do is lie and they get all their money back. James Hi Tom

I agree completely and have noticed a huge increase in my online fraud stats. I used to run at about 3% of TO of CNP fraud. Over the last 12 months this has increased to 5% with the last 3 months seeing an increase to about 6%.

I have noticed a trend, which in the UK is rather worrying especially as most of my customers are stateside. The trend which is hitting us more and more now is cyber shoplifting. People who order goods and check out completely, they get the goods then claim they have not recieved them. EVEN though most of these high ticket items are sent FEDEX they simply say “not my signature” and thats it, the bank gives them my money.

Until the delivery companies are prepared to offer a service of ID Verification for online companies then this will continue to happen. I need FEDEX or UPS to offer a full blown ID verification upon delivery service. I would gladly pay for this service, but thats the weakest link.

And unless anyone has any ideas these people will continue to rip us off with zero comeback. Cyber Shoplifting thats the frightening thing for me as no matter how much I check someone out, all they have to do is lie and they get all their money back.

James

]]> By: J Eccles http://www.merchant911.org/blog/index.php/2008/10/21/on-line-credit-card-fraud-is-going-to-soar/comment-page-1/#comment-1512 J Eccles Tue, 21 Oct 2008 15:53:09 +0000 http://www.merchant911.org/blog/?p=166#comment-1512 I am constantly counseling people on what to look for when it comes to online fraud. The most aggravating part is how hard the credit card processors and companies make reporting these cases. I spent nearly an hour this morning trying to get through to Anyone at PayPal Pro to let them know they had authorized a possibly stolen card. Still no answer from them. Called Visa - couldn't do anything because I did not have the numbers they needed to identify the issuing bank. I am constantly counseling people on what to look for when it comes to online fraud. The most aggravating part is how hard the credit card processors and companies make reporting these cases. I spent nearly an hour this morning trying to get through to Anyone at PayPal Pro to let them know they had authorized a possibly stolen card. Still no answer from them. Called Visa – couldn’t do anything because I did not have the numbers they needed to identify the issuing bank.

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