E-tailers gang up to fight online credit card fraud

A service to be launched by IMRG will allow online retailers to share information about fraudsters quickly, safely and at very little cost

A new scheme to fight online fraud has been given the go-ahead this week, having won backing from the e-retail industry.

The “IMRG Security Alert” service will enable e-retailers to safely share lists containing fraudsters’ details with each other. The scheme is scheduled to go live at the end of this month and so will be available to protect merchants during the key Christmas and January sales shopping periods.

IMRG managing director Jo Tucker says: “Online fraud is costing retailers millions of pounds each month and must be checked. Our aim is to reduce e-retail fraud by enabling UK merchants to share usable intelligence about fraudsters quickly, safely and at low cost.” This information includes names and addresses and credit card numbers. All data will be stored in compliance with EU rules on data protection.

Leading merchants that have already applied for the service include: Argos Direct, Blockbuster, Carphone Warehouse, Digital Wellbeing, dvd.co.uk, figleaves.co.uk, Greenfingers.co.uk, Lastminute.com, Ocado, Petplanet.co.uk, Screwfix, Thinknatural.com and Zoom.

The move is part of IMRG’s ongoing “Fighting Online Fraud” initiative, and is billed as “entirely complementary” to all other major anti-fraud schemes online, such as Verified by Visa and MasterCard’s SecureCode.

IMRG chief executive James Roper says: “Many retailers have unofficially shared information about fraudsters with their competitors for years, but their information has been inconsistent and patchy, and therefore of limited value. Many have been lulled into a false sense of security, having experienced little or no online fraud, only to find that they are then hit suddenly and massively.”

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here