Brazil-based fraud prevention and management company ClearSale has announced the commencement of operations in Australia, driven by the need to counter issues commonly faced by e-commerce practitioners.
Michel van Aalten, Adyen country manager ANZ
According to the Australian Payments Network, payment fraud on Australian credit cards hit $476 million in 2017, surging from $218.1 million in 2016. As of 2018, online card fraud now accounts for 85 per cent of all card fraud in Australia.
Retailers worldwide are set to lose some US$130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023, according to a new report highlighting the use of increasingly complex approaches by fraudsters.
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One would think it's a little too late in the day for that.
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You are spot on, mate.