Online merchants vulnerable to mobile fraud

A recent survey by CyberSource has shown that online merchants are not taking adequate provisions to prevent online fraud.  Data from the survey showed that only 25% of the merchants surveyed are tackling fraud through their mobile sites.

“38% of merchants now have a dedicated mobile website and 26% have their own app. But just a quarter of those merchants are tracking fraud originating on their mobile site and only 16% are tracking fraud through their mobile apps” said Dr Akif Khan co-author of the report.

The report also highlighted that some 61% of merchants manually check online orders, a reduction of 10% in the last two years. The two major concerns for merchants were the fear of turning away legitimate customers and the time taken the manually review the orders.

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