November 11, 2010

Fraud risk grows for online shoppers

by Jan Harris

The amount of money lost by British victims of online fraud doubled to £697 per victim between April and September, compared with £352 in the six months to March.

The research, carried out by Symantec’s VeriSign, noted a 2 per cent fall in the number of people who said they would only use websites displaying enhanced security credentials.

Scotland had the least amount of online fraud, while Northern Ireland had the most.

71 per cent of British online fraud victims suffered a financial loss, which amounted to more than £1,000 for 15 per cent of them.

Unfortunately, 6% fewer out-of-pocket victims were fully reimbursed for their loss by their credit card provider.

In the six months to March, 88 percent received full compensations, while in the following six months this had fallen to 82 per cent.

Yesterday the Guardian reported research by knowthenet.org.uk, which tested the ability of 2,000 online shoppers to spot and respond appropriately to seven online scams such as fake goods, and bogus web pages.

The research found that professional women between the ages of 25 and 34 are the most likely to fall victim to online scams.

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