1. E-Crime Overall, the UK retail sector lost £77.3 million as a result of the direct costs of e-crime. This is made up of ID fraud, card fraud, card-not-present fraud and refund frauds. 2. Security Data provided by retailers questioned in this survey suggests that, in 2011-12, at least £16.5 million was spent by the retail sector to provide better protective security for customers against e-crime. This figure excludes payments to banks for systems such as 3D Secure and ‘chargebacks’. 3. Lost revenue Estimated losses in revenue experienced as a result of legitimate business being rejected through online fraud prevention measures came to £111.6 million in 2011-12. |