RealNews

Online fraud concerns on rise as holiday season nears

The upcoming holiday shopping season promises to be a busy one not just for Internet retailers, but for opportunistic online fraudsters and identity thieves as well. As a result, Internet merchants — especially smaller ones — will need to make sure they have adequate fraud- and theft-detection processes in place before the rush begins, industry experts warned. “I think the problem is going to be real bad,” said Tom Mahoney, founder of Merchant911.Org, a 1,600-member forum in which merchants can share fraud-prevention information. “All the projections we’re seeing are for a significant increase in online sales. Because of this rush, there will be less time for smaller merchants that do some or all of their own fraud screening, to do it well,” Mahoney said. Expect to see an increase in the number of successful fraudulent transactions and lost dollars as a result, he said. Full Story

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