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Credit card fraud hits shoppers

Fri, 13 Feb 2009

According to credit card news, more and more consumers are falling victim to credit card fraud, or know somebody who has been affected. A study conducted by payment technology company CyberSource indicates that a third of the UK population has had some experience of credit card fraud .

41 per cent of the 1000 British consumers who participated in the study were afraid of using the internet to purchase goods due to fears over security. Two thirds of online shoppers claimed that their credit cards were protected by something like MasterCard SecureCode or Verified by Visa .

Cybersource managing director Simon Stokes reportedly commented: "The challenge to the industry is educating consumers to shop safely, to minimise their exposure to fraud. As more people gain access to the internet and realise the convenience, value, and safety of shopping online, I believe we'll see a higher percentage trying and staying with this form of purchase."
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