64% of fraud now online – Harris

Posted March 23rd, 2012 in Justice

Harris raises growing problem of online fraud in the Dáil, warns businesses and consumers to be vigilant.

Fine Gael Wicklow TD, Simon Harris, has raised the significant growth in the area of online fraud in the Dáil. Speaking on the issue, Deputy Harris said, “The internet has provided Irish businesses with many new opportunities to communicate with customers and identify new markets, but it also presents many new challenges, among them the growth in ‘card not present’ (CNP) fraud, where items are purchased using stolen credit card details.”

“If a consumer is affected by CNP fraud, they have the inconvenience of having to make a claim and to cancel and replace their cards, but ultimately they are entitled to a refund from the bank or credit card company. The same is not true for retailers, who are often left bearing the brunt of the cost. There is no reimbursement for businesses who ship items in good faith, only to find the payment cancelled as a fraudulent purchase is identified.”

“Other countries have introduced what is known as Address Verification Systems, which help retailers in spotting online fraud. This allows retailers to do a live check of the relevant details, benefitting both businesses and consumers by flagging suspicious activity at a very early stage.”

“At a time when the Government is sending out a very strong and important messages encouraging businesses to reach out to new markets and to grow their businesses, it is important that as a Government, we do everything possible to support these companies – and that includes helping firms to be profitable and create jobs by ending fraud.”

“I have asked the Minister to have this issue considered as part of the White Paper on fraud which is currently being compiled, and look forward to the publication of the report.”