The Interactive Advertising Bureau (IAB), the Net’s commercial trade body, has teamed up with a credit card industry body, the Association for Payment Clearing Services (APACS), to publish guidelines designed to beat online credit card fraud.
APACS says total plastic card fraud is expected to top £400m this year, up from £293m in 2000, but online fraud only makes up an estimated two per cent of the total – about £8m.
The IAB is issuing a “Ten Point Plan” for its members to highlight potential dangers. It encourages consumers to be vigilant about copycat sites, look for a padlock icon before giving credit card details, be careful how they use their password, shop with trusted names, keep records of transactions and call retailers before placing an order if they have any doubts about the website.
IAB chairman and chief executive Danny Meadows-Klue says: “Online shoppers should not have serious concerns about security as long as they follow our guidelines and use common sense.”
The IAB predicts “smart” chip cards used with PINs (personal identification numbers) will form the base for secure-transaction technology in the future, with chip readers and PIN pads attached to PCs, digital televisions and phones.
Online shopping in the UK is expected to hit new heights this year, according to Jupiter MMXI, with a total spend of £2.7bn – up from £1.56bn in 2000.
More details about the IAB’s anti-fraud scheme can be found at iabuk.net.