News & Events - News for July 16, 2009

July 16
2009
E-commerce Fraud: The Latest Criminal Schemes

Sebbe Jones, manager of fraud and disputes at 2Checkout, details the latest criminal techniques using online payment transactions

July 16, 2009 — CSO
E-commerce fraud costs retailers approximately $4 billion each year, according to the most recent results of an annual survey conducted by Cybersource, a provider of electronic payment and risk management services. Sebbe Jones, manager of fraud and disputes at 2Checkout, is in the business of keeping e-commerce fraud at bay

2Checkout, an international online payment service, is a reseller for small-and-medium-sized businesses. The company has more than 20,000 active suppliers and handles more than 200,000 transactions a month. Merchants come to 2Checkout to handle the financial life of their transaction. Naturally, criminals hoping to defraud people out of their money and credit card information also attempt to use the system for financial gain. Jones outlines how 2Checkout monitors fraudulent activity, and details some of the latest scams he sees on the job.
Complete Story Available at:
http://www.csoonline.com/article/497288/E_commerce_Fraud_The_Latest_Criminal_Schemes