Fraud Could Rain On Holiday Parade

Online retailers may seen payment fraud siphon $3 billion away from their enterprises for all of 2006, and there is impact beyond the Internet. Despite the hefty ten-digit sum being withdrawn from the pockets of seething retailers for the year, the figure represents a downward trend in the total percentage of sales ending up as a chargeback due to fraudulent activity. Analyst firm eMarketer spending exceeded $17.5 billion from November 1 through December 12. During that run, online retailers collectively saw five consecutive days where spending topped $610 million for each day. That's a lot of George Foreman Grills and other items moving through the Internet marketplace. Tag: Add to Del.icio.us | Digg | Reddit | Furl Bookmark Murdok: David Utter is a staff writer for Murdok covering technology and business.