How Bad Is Online Fraud?

from the who-the-hell-knows dept

No one seems to agree on just how bad online credit card fraud is. A new study suggests that it’s only four times as bad as offline fraud, but other studies say the number is more like ten times as bad. Despite these arguments, consumers are still scared that their card is likely to be stolen, which actually has a very small chance. And, of course, since the beginning of this whole e-commerce craze everyone has been afraid that people would steal their credit card numbers when they were sent – whereas the actual problem is idiot merchants storing their data in poorly secured databases.

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