Payment Fraud Moves to Internet in Europe, Says Commission

Despite recent efforts to clamp down on electronic payments fraud, the crime is still rife and is undermining citizens' confidence in buying and selling over the internet, the European Commission said yesterday. A Commission report on fraud and countermeasures taken between 2004 and 2007 shows that even though the number of discovered cases is a small minority of the overall number of transactions using new payment services, they undermine the general level of confidence among citizens in the European Union.

http://www.pcworld.com/businesscenter/article/145190/payment_fraud_moves_to_internet_in_europe_says_commission.html