An extract from the Varilogix newsletter earlier this month...interesting.
Card Fraud Statistics
According to some industry analysts, fraud costs USA ecommerce merchants over 2.6 billion dollars during 2004.
Overall rejected orders total about 70-80% on all worldwide internet transactions over the period of a year. In the U.S., Australia, Canada, British Isles & western Europe about 50%. Orders from countries in some eastern European countries such as Romania, etc. are 100% fraudulent.
When we read about credit card fraud from the merchant's perspective, the numbers mentioned are usually figures showing transactions that result in a chargeback fee to the merchant - they don't tend to reflect the attempted frauds.
Lucky for our clients they will not become part of the statistics anymore. Many VariLogiX users have had noticeable results after implementing the FraudCall service. Most users report a decline as much as 100% drop off of fraudulent orders and chargeback?s.