Credit card fraud over the internet could cost on-line retailers millions over Christmas period, according to e-commerce security company, TrustMarque.
The company claims that up to £32 million of total global e-commerce revenues could be threatened by cyber fraud during December. Trustmarque has launched an on-line hotline offering free security advice to people operating e-commerce sales channels.
According to figures from market researcher BMRB, an extra 2.4 million British consumers will be shopping on-line during the Christmas period compared to 4.8 million on-line shoppers during the first eleven months of 1999.
Figures from NOP suggest that total global on-line spending during December alone will amount to £400 million. Traditional credit card authorisation checks detect only a small percentage of fraudulent orders, potentially leaving eight per cent or more of total transacted revenues at risk.
John Williams, chief executive at TrustMarque, said: " We are offering a complete service for any e-business developing a secure e-commerce strategy."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
