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Black Friday Sees Alarming Levels of Attempted Online Fraud - up 40% From Last Year
Wednesday, December 03, 2008
Fraudsters Feast on US Goodwill
NEW YORK and LONDON, December 3 /PRNewswire/ -- Retail Decisions (ReD)
today reports that the online retail market experienced a staggering 40
percent increase(1) in attempted online fraud on one of the USA's busiest
shopping days, Black Friday.
ReD, a payment card issuer and world leader in card fraud prevention and
payment processing, reports that its online retail clients saw an increase in
attempted fraudulent activities. Furthermore, the value of fraudsters'
attempted transactions increased to an average of $248, up on last year by
25%. The favorite items for the would-be fraudster included Virtual Gift
Cards, Givenchy Perfume, Lancome and Estee Lauder Cosmetics. According to
ReD, the most fraud prone US shipping and billing states were Florida and New
York.
As a global leader in card fraud prevention, ReD monitors some 16 billion
card transactions annually, providing a unique prospective on sales volumes
and trends. Carl Clump, CEO at Retail Decisions states, "Forty percent uplift
in attempted online card fraud is a dramatic increase. Retailers are being
hit from all angles, with the economic downturn accompanied by an increase in
attempted fraud. The damage from online fraud can be extensive to businesses,
and its' reputation as well as hitting the bottom-line hard."
According to ReD, online shopper's busiest minute for its retail
customers was Cyber Monday at 1.48 pm. Black Friday held onto the busiest
hour between 1.00 pm - 2.00 pm, and the most popular selling gift items were
Garmin Nuvi 200 GPS Display Screen, followed by Samsung Digital Camera, Kodak
Digital Camera, Sanyo Xacti Digital Camera and GiiNii 8" Digital Photo Frame.
Note to Editors:
To find out more data, contact us for an interview with Carl Clump, CEO
of retail decisions.
About Retail Decisions
Retail Decisions (ReD) is a payment card issuer and world leader in card
fraud prevention and payment processing. A specialist supplier to the
payments industry worldwide, ReD has over 20 years experience in the fraud
prevention market. Its blue-chip international clients come from the global
telecommunications, retail, travel, petroleum, banking and the broader
e-commerce sectors. They include Wal-Mart, Macy's, Bloomingdale's, Sears,
Tesco, Texaco, Shell, Asda, Boots, John Lewis, The Carphone Warehouse, Comet,
Travelocity, T-Mobile and Virgin Mobile. The company has offices in the
United States, UK, Mainland Europe, Australia, China and South Africa with
representation in India, Japan, and South America.
More information about ReD please visit: http://www.redplc.com.
CONTACTS
Carl Clump, Gwyneth Pritchard,
Chief Executive Officer Head of Group
Marketing Retail Decision Ltd Retail Decisions Ltd
Tel: +44(0)1483-728700 Tel: +44(0)1483-794932
Website: http://www.redplc.com email: gpritchard@redplc.com,
(1) According to ReD data, December 2008
SOURCE Retail Decisions (ReD)
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