Fraud experts warn the situation is likely to grow worse during an economic downturn, with small companies at greater risk than major firms of being targeted by fraudsters, writes Travel Weekly UK.
Researchers at the Royal Bank of Scotland spoke to 1,000 consumers and 110 companies to find out, and the bank’s payment solutions brand WorldPay hosted a round table in London to examine the findings.
Payment experts from British Airways, Expedia, National Express, Flybe and Sunvil discussed the issue of credit card security.
All the companies represented employ online security measures. Some felt customers did not always understand the importance of these.
British Airways global payments manager Ken Muir said: “We have been using the 3D secure system, but a lot of people don’t seem to know what it is. There should more publicity to make people aware of security.”
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