Fraud surge expected this Christmas
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Fraud is expected to boom in line with online shopping this Christmas, as shoppers head online
Credit card fraud and identity theft are expected to skyrocket this Christmas, with almost three-quarters of the cash-strapped UK population planning to shop online for a bargain rather than hit the high street.
A survey by security firm VeriSign found that 57% of male respondents claimed "nothing would hold them back" from shopping online, while only 38% of Londoners and 23% of Northerners said they were concerned about ID theft and fraud. Interestingly, over 80% of those planning to spend online were in the younger age bracket of 18 to 34, while those most concerned about online security were aged over 55.
But with awareness of the potential problem rising, site security could become a competitive differentiator, says Tim Callan, VeriSign's vice president of SSL product marketing.
“Businesses need to do what they can to encourage consumers to feel safe and shop online. More and more consumers are looking for visual cues showing that a site is secure, so it’s important that businesses make it obvious that that their websites are legitimate,” he said.
Further reading
Online banking fraud up 185%
Banks upgrade security in wake of rising overseas fraud
Businesses not doing enough to combat identity fraud
Find more stories in the Security & Continuity Briefing Room
