Online Revenue Loss due to Fraud

2004 $1.9 Billion
2005 $2.6 Billion
2006 $3.1 Billion
2007 $3.7 Billion
2008 $4.0 Billion

Larson note: What can you do? It is amazing the stories that I have heard form my customers that people come up with as to why they bounce or feel they don’t have to pay a credit card payment. Of course the same is true with some companies not paying an invoice, but that is a different blog to write.

What I did not check out was if this was a growth in % or just a growth in overall numbers. We all know that online sales are growing at a phenomenal rate as people use and trust buying this way, still $4 Billion? That’s a lot of money by anyone’s standards.

Howard Larson
Larson & Associates
Target Marketing & Telesales Professionals for new account acquisition
Making good businesses great and great businesses even better
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P.S. We make telesales for small business affordable by offering programs down to only 15 hours a week. Maybe you could add telesales into your marketing mix call today and find out.

P.S.S. If you are in Credit Cards I have just signed up the services of an EXPERICENED merchant service salesperson. Interested in using him, call today.

*Source: CyberSourse crop annual Online Fraud survey. Sample of 400 online marketing in the use and Canada