Merchants set to lose US$2.8 billion this year because of online fraud, survey finds. Companies with online revenues of between $5 million and $25 million annually are being hit the hardest. Online fraud losses for smaller merchants were lower than last year — falling from 2.1 percent of revenues in 2004 to 1.6 percent this year. Most merchants are so far relying on two basic means of fighting fraud: address verification systems, checks of the card verification number and MasterCards SecureCode.”]
Source: https://www.csoonline.com/article/2119089/survey–e-commerce-fraud-will-cost-businesses–2-8b.html