Today's risk situation
Globally increase in online fraud
The fraud trend among e-commerce sites continues to steadily increase. Electronic payment transactions have surged during the last few years, and so has the incidence of payment card fraud. Criminals devise ingenious and often innovative means to identify and capitalise upon weaknesses in the system.
Faced with enormous increases in counterfeit and card-not-present fraud, as well as an increased number of stolen cards, 3D secure is no longer a good enough protection and CVV codes don't meet the security demands of today's market - companies recognize the need to employ more effective fraud detection solutions. In Europe from 2004 till 2006, the dollar amount lost to fraud has doubled to a staggering $35 million per quarter.
