Fraud Losses Pile Up for Online Retailers

Online fraud will account for more lost revenue than ever before in the decade-plus history of e-commerce. Online merchants expect to lose a record $4 billion to fraud in 2008, up from $3.7 billion last year, according to a recent survey from CyberSource, a provider of electronic payment and risk management solutions. The survey of 400 online retailers was conducted from Oct. 21 to Nov. 11. Here are some more findings of the survey: