Big variations between them and all at variance with the amex report.
What I was trying to say was that e-gold seems to attract a larger
proportion of cc fraud than would otherwise occur.
Although you are buying gold it is not often used as a capital accumulation
as such but more as a transactional medium.
If you buy a book with a cc there is less chance of fraud I believe as there
is a product to show at the end of it many cc fraudsters want the money not
a book.
Buying gold through a MM to go into an annonymous account is going to
attract more then it's fair share of devious individuals hence I believe
that using the level of fraud with cc's is much higher when used in
conjunction with cc's than with most other products and services so the
figures below do not really mean as much.
You can say that of the 5000 people that cross the road only 10 get hit by a
car.You can leave out the fact that 8 of them were hit at main street at
exactly the same spot and the other 2 at different locations. e-gold is our
Main Street.
There is a list of cc frauds that have occurred over the past year with
e-gold accounts (by no means complete) which the MMs get on a regular
basis and you would be suprised how many there actually are.
Kind regards,
Michael Moore
[EMAIL PROTECTED]
http://www.gold-today.com
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----- Original Message -----
From: <[EMAIL PROTECTED]>
To: "e-gold Discussion" <[EMAIL PROTECTED]>
Sent: Tuesday, February 13, 2001 9:35 AM
Subject: [e-gold-list] Re: there you go Michael Moore!
> > That is simply not correct. While there is a lot of media hype on this
> > subject, Internet CC fraud is not a large proportion of the overall CC
fraud
> > and the numbers are pretty much in line with that of the offline fraud
> > (which include stolen cards, stolen numbers, ATM scams, mail order &
> > telephone transactions...).
>
> I tried to come up with some statistics on online CC fraud...here are
> my quick results:
>
> URL
> Date
> Source
> Which Merchants
> Statistics, comments
>
> http://www.vnunet.com/News/1113978
> 2000?
> MindWave Research / CyberSource
> 100 random
> 4% of online transactions fraudulent
>
> http://www.sfama.org/past_articles.htm
> ????
> First Data Corp.
> ????
> 1.25% of internet transactions charged back
> .33% catalog transactions charged back
> .14% storefront transactions charged back
>
> http://www.microtimes.com/newsfeeds/November2000/nov0300.html#a8
> 2000?
> MindWave Research / CyberSource
> 132 companies
> 5% of online transactions fraudulent
> online fraud is 50% of all card fraud
>
> http://www.it-analysis.com/99-11-22-2.html
> fall 1999?
> Visa International
> ????
> online transactions account for 50% of total fraud
> 2% of total transactions performed online
>
> http://www.home-office.com.au/Research/050.htm
> feb 2000
> mastercard
> ????
> 50% of total chargebacks sourced from the internet
> chargebacks far less than 1% of all transactions
>
> http://www.finfacts.com/intcard.htm
> ????
> ????
> ????
> Online credit card use accounts for only about 2% of Visa International 's
> total
> credit card transactions, more than 50% of its discovered frauds/disputes
> relate to
> online use.
>
>
>
>
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