E-commerce fraud is up slightly over 2007, when it set the previous record of $3.7 billion. The 2008 figure represents about 1.4 percent of merchants’ total online revenue for the year. Many merchants have been fighting fraud by flagging suspicious orders and reviewing them manually. Midsize merchants are most challenged by online fraud, Cybersource study says. Fraud chargebacks can represent a profit potential for merchants, study says, and one-third of merchants challenge fewer than 10%.”]