4R Blog

RSS Feed

Retailers warned of social media and mobile fraud

Date Added: 04/07/2011  

UK retailers could face problems such as a winding up order in the future as a result of the rise of mobile and social media fraud.

Michael Norton, managing director at PayPoint.net, stated research by the organisation shows the "big" impact these new types of crime are going to have on businesses in the near future.

Online fraud is thought to be about to rebound after a couple of years in decline, with the company predicting a hike of 18 per cent over the course of the next four years.

"One of the key reasons for this is that two of the big anti-fraud schemes run by Visa, MasterCard and other card-issuers aren't available for mobile apps and social media sites," said Mr Norton.

He added this means there are going to be more risks to both the customer and the retailer of being the victims of social media and mobile fraud.

Posted by Julie Cutts 

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback