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Eran Feinstein

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Online credit card payment fraud is an unfortunate facet of online commerce - and one that is likely permanent. For every safeguard put in place, there is someone willing to find a way to get around it. While the vast majority of online transactions are uneventful, the threat of fraud is always present. There is no way to be completely safe from credit card fraud. As was made evident in the infamous Target security breach in the United States, where the information of thousands of credit card holders was compromised, and the recent massive fraud case in India, in which one man was found to have stolen money from 4,500 credit cards, fraud takes many forms and can happen in unexpected ways. So how does payment fraud affect all the players involved? Who are the real winners, and the real losers? The merchant Merchant credit card fraud losses occur mainly on transactions... (more)