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The UK, Germany and France remain the top three e-commerce markets.

The UK, Germany and France remain the top three e-commerce markets.
Tuesday May 15 2012

The MRC Europe and CyberSource 2012 European Online Fraud Survey results were presented at the recent MRC Dublin Conference.

For this study members of the MRC were asked about their experiences when managing online fraud, with regard to metrics such as order acceptance, fraud tool usage and manual review practices. The MRC and CyberSource also conduct a similar survey in the US. This fraud survey therefore enables direct comparisons to be drawn between practices in Europe and North America. The full survey results are available to MRC members only.

The survey found that e-commerce merchants in the UK are using a wide range of antifraud measures to ensure that they are safeguarded. The survey also showed that 54% of respondents accept orders from every EU country and that 87% of respondents accept orders from outside Europe. The UK, Germany and France remain the top three e-commerce markets.

The United Kingdom was the top markets in Europe by online revenue with 82% of merchants doing business online. This dropped to 63% for Germany, 57% from France on their larger drop to 21% for Italy and the remaining 10 European countries with Russia at the level of 1%.

The top three fraud benchmarks used by the European e-commerce retailers were A) percentage of revenue lost online payment fraud, B) fraud rate percentage of accepted orders that later turned out to be fraudulent C) top strategies fraudsters use and attack profiles.

The top three most effective fraud tools used across Europe are, the fraud scoring model — company specific — 57%, device fingerprinting 46% and 3-D secure system 40%. The primary methods used to determine the origin of fraud across Europe are, IP address at 42%, billing address at 17% and delivery address at 15%.

The survey showed that 36% of European merchants use  social networking in some way as a fraud detection device with device fingerprinting coming second at 34% and website behaviour analysis third at 28%. The survey showed that card verification number, negative lists (in-house lists) and the customer order history were the top fraud detection tools used across Europe. Website visitor behaviour and pattern analysis came way down the list of fraud detection tools, however, it came above the list for public record services such as Experian.

Dr Akif Khan Director of Products and Services, CyberSource said: "This survey shows that European e-commerce retailers are taking fraud detection and prevention seriously, using all the correct parts of the jigsaw puzzle to ensure that they have a good level of coverage. The survey shows that e-commerce is in good shape and that e-commerce merchants generally are confident that they have the anti-fraud tools in place, or are currently reviewing new parts of the jigsaw puzzle to put into place."

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