Online Buyers Strike By Credit Card Fraud

A new survey has discovered that a large number of population of UK consumers have admitted to have fallen victim of credit card fraud or know someone who has.

The survey was carried out by Cyber Source, a payment technology firm, revealed that a third of the UK population have been greatly strike by credit card fraud.

The figures reported that there was an increased concern amongst more internet shoppers.

The study pointed out that 41 per cent of the 1000 British consumers surveyed did not use the internet to purchase online through credit cards due to their distress regarding its security.

On the other hand, two thirds of those who do shop online indicated that their credit cards care protected after signing up for Master Card Secure Code or Verified by Visa.

According to Simon Stokes, Cyber Source managing director, "The challenge to the industry is providing education to consumers so that they can able to shop safely, so as to reduce their exposure to fraud.

As more people attain access to the internet and understand the expediency, value, and safety of shopping online, I believe we will look at a higher percentage making effort and staying with this form of buying."

Meanwhile, new research has reported that more number of Brits is failing to manage with their credit card payments.

According to the research conducted by Fitch Ratings discovered that there had been a severe rise in the number of failing to deal with their credit card payments towards the end of 2008.

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