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    Highlights of the ICANNWatch Archive
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    Don't Like the UN? How About GAC? | Log in/Create an Account | Top | 84 comments | Search Discussion
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    One Out of Five Dollars was a Fraudulent Purchase
    by Anonymous on Thursday August 18 2005, @06:54AM (#15971)
    http://www.computerworld.com/securitytopics/securi ty/story/0,10801,103793p4,00.html

    "Responding to fear with rational discussion is completely pointless. We think that it's very important that everybody who's planning to be a long-term player on the Internet understands that we have to make it a place that is not only secure, but that people are confident that it's secure.

    And look, we had our issues. When I walked in the door, do you know what the fraud rate was at Network Solutions? 19.88%. One out of five dollars was a fraudulent transaction. And they were doing nothing about it. Today our fraud rate is 0.18%, lower than the off-line merchants. And in fact Gartner has written us up as the only people who have figured out how to beat fraud online.

    We just felt that was an absolute essential. Not only good business practice, but also the reputation that it gives the whole Internet when people are suffering those kinds of levels of fraud -- when you get a call that says your credit card's been used by somebody in Romania to buy 15 e-mails and five Web sites that they will never use but they will process the cash through into their account -- is not going to make you comfortable. We take it real seriously, but we can't force everyone else to. "
    [ Reply to This | Parent ]


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