A Whopping Ten Percent of UK Victims of Online Fraud

Thursday, November 11, 2010

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British citizens are losing nearly twice as much money to online fraud as they were just six months ago according to a study released by VeriSign, and a stunning ten percent have now been victimized.

The prevalence of online criminal activity has been the major obstacle to the widespread acceptance of ecommerce and online financial services as convenience is being trumped by financial losses, which are now readily being passed on to consumers.

“New e-commerce sites are not used to absorbing cost and pass it on to the customer," Symantec's Fran Rosch told SC Magazine.

The revelation that the number of victims is so substantial should compel online retailers and services to redouble efforts to eliminate vulnerabilities such as cross-sight scripting (XSS), and should increase the prevalence of security measures like utilizing SSL enabled websites.

Source:  http://www.scmagazineuk.com/internet-fraud-continues-to-be-a-problem-as-ten-per-cent-of-the-online-uk-population-are-reported-victims/article/190594/

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