What could New York and Nigeria have in common? CyberSource Corporation, a leading provider of electronic payment and risk management solutions, commissioned the Seventh Annual CyberSource Fraud Survey. Undertaken by Mindwave Research, the survey was fielded September 16 through October 6, 2005.
For the second time in two years, eCommerce merchants named New York City as the riskiest North American metro area for eCommerce. Nigeria was chosen as riskiest country, also for the second straight year. By “riskiest,” survey respondents are indicating that orders from these areas are most likely to be fraudulent (i.e., made with stolen credit cards or other fraudulent payment).
“Highest risk” areas for eCommerce:
NYC: 18% of mentions
Los Angeles: 7%
Chicago, Detroit : 2% (each)
Nigeria : 31% of mentions
China : 7%
Indonesia : 5%
Afghanistan, Mexico : 4% (each)