Cybersecurity
Retailers Are So Wary of Fraud They’re Rejecting Real Customers
- Companies’ online protection often errs on the side of caution
- Most businesses say fraud losses are either steady or rising
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Retailers are so worried about fraudulent purchases online, many say they’re rejecting legitimate transactions out of fear that they may be fake.
Sixty-seven percent of retailers have online security measures that are quick to cancel any transaction that raises suspicion, according to a survey by Experian, a global information-services company. When gauging all businesses -- a group that also includes banks and telecommunications companies -- that figure rises to 71 percent.