December 3, 2003, 12:00 AM

The top--or bottom--10 countries for online payment fraud

Indonesia and Nigeria topped retailers’ list of countries where they have experienced the most fraud, according to a survey commissioned by payment processor CyberSource. No. 3: The U.S.

A survey of U.S. online retailers who accept overseas orders conducted for payment processors CyberSource Corp. by Mindwave Research reports the following Top 10 countries for fraud, with the percentage of retailers who cited each country as a problems area:

Indonesia, 28%
Nigeria, 28%
U.S., 25%
Russia, 15%
U.K., 13%
Malaysia, 10%
Canada, 8%
Romania, 8%
China, 7%
Philippines, 7%
Mexico, 7%

Mindwave conducted a survey of 333 online retailers in October, of which 137 accepted orders from outside the U.S. They were asked: "From your experience, which three countries pose the highest risk of online fraud (i.e., either high risk or you refused to sell to because of fraud problems)?”

 

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