Thursday, June 19, 2014

Survey Revealed US Online Credit Card Frauds Bumped Up with 11%

The Fraudulent use of the Credit and debit card has triggered an era of security companies have searching for the solutions. NRF loss Conference and Expo has revealed that the US retail fraudsurvey has revealed that the Frauds are increased with 11% in US only. The survey was published at Retail Knowledge and sponsored by the security experts and companies who also process of about 100 top retailers. This was the biggest survey of all time and also the shows that the online sales accounts drives about 6% of the total sales in the retailers  but in next coming three years, they will be expecting about 15 % of the sales. Don Bush from Kount which is one of the biggest fraud survbey sponsers had appreciates the fact that the companies have started to take the security risk very seriously and companies investing a big amount of total revenue just to ensure that there will be no loose ends in the system.

“There are some important changes to the Survey this year. Detailed results are now only available to those retailers who took part. And a new anonymous section has been introduced to aid the quality and availability of the most sensitive data. These changes will further help retailers to benchmark, plan for future developments and react appropriately to fraud in general.” Read more at retailsolutionsonline

As of consumers, Smartphone have became one of the biggest part in the people’s lives and they don’t even can secure the cellphone data and if they looses there is no ways that they can get back that data. Retailers like Target, which just encountered one of the biggest attack in the system that compromised about 10 million credit cards put on risk. Since then the company took very serious steps such as adding the location of user cell phone to the card to ensure the transaction under taking by user.

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