MRC 2010 Fraud Conference: ThreatMetrix Survey Results
What’s more important: stopping online fraudsters at the first attempt or making it fast and easy for customers to transact online? We posed this question and a few more to the attendees at our booth last week in Las Vegas for the Annual Merchant Risk Council conference. Two hundred eighteen people completed the survey…more on what they said in a minute.
The MRC puts on a great conference where you can connect with top fraud prevention industry professionals in online retailing, payments, and information technology. Web fraud tools, trends and tactics change all the time so it’s good to benchmark year over year and learn what’s new from the experts.
We asked attendees at our booth to complete a “one minute” survey to see what we could learn and share what we learned with survey respondents –and now you. This was our second year at the MRC, and to celebrate our breakout 2009 we gave away a few hundred cool t-shirts with ThreatMetrix fraudster cartoon mascots Natasha and Gromyko emblazoned across the front…no surprise there were none leftover to ship back from the MRC.
We worked quickly to tally the survey results and get them out, so without further delay here are the complete results from our 2010 MRC Conference survey:
Slightly more than half of the respondents said they think stopping online fraudsters at their first attempt is more important than making it fast and easy for customers to transact online. Respondents were required to choose only one, many said both are equally important.
Almost two-thirds of the respondents said they are more at risk for collecting personally identifiable information than their customers are for providing it.
About two-thirds of the respondents said they need fraud prevention for only one of the three types of web transactions. About one-third require fraud protection for two or more of the three types of web transactions, with almost 20% needing fraud protection for all three.
Respondents were asked to select as many of these transaction types that applied to their business. The percentages reflect at least one selection marked for a category. About 44% respondents require fraud protection for card-not-present payments, while about 12% cited new account creation and 5% account logins.
We’ll ask these questions at the Electronic Transaction Association conference back in Las Vegas in a few weeks to find out how their answers compare with the MRC results…be sure to check back.
- Tom
