NEWS

NEW YORK, February 12, 2010 – Retail Decisions (ReD), a world leader in payment fraud prevention, reports that online retail sales reached an estimated $4 billion in the run up to  Valentines’s day, a 36% increase on 2009.  As more consumers move to shop on the internet, payment fraudsters are also becoming more active. Estimates reveal that over the same period, around $68 million of attempted fraud took place online, up 49% year on year.

Carl Clump CEO of Retail Decisions comments, “Fraudsters spent an estimated 36% more per transaction than genuine shoppers in the two weeks prior to Valentine’s. Whilst romantic Americans spent just $158 per transaction, fraudsters used stolen card details and spent a significantly higher average of $211. 

Fraudsters opted for high value ‘fashionable’ products such as gift cards, cosmetic gift sets and designer handbags for their loved ones. Gift cards topped the genuine and fraudulent shopping charts. Fraudsters like gift cards because they are versatile and hold their resale value on the black market. This year we have seen that genuine popular Valentine’s Day gifts include makeup, perfume, handbags, the iPod Touch and Satellite Navigation Systems, as shoppers opt for more practical gifts.”

According to ReD, consumers can avoid the risk of payment fraud by taking the following precautions:

• Report a card lost or stolen the moment you have noticed that it has gone
• Shred credit card statements before throwing them away
• Don’t let your cards or personal documents out of sight and keep them safe, especially when you are making a payment
• Sign new cards immediately
• Report any unfamiliar card transaction that appears on your statement immediately to your card issuer.
  

Notes for editors:
About ReD
Retail Decisions (ReD) is a world leader in card fraud prevention, payment processing and card issuing.
A specialist supplier to the payments industry worldwide, ReD has over 20 years experience in the fraud
prevention market.  Its blue-chip international clients come from the global telecommunications, retail,
travel, petroleum, banking and the broader e-commerce sectors.  They include, Air China,
Bloomingdale's, Boots, Coles, Comet, Esso, Fedex, John Lewis, Louis Vuitton, Macy's, Sears, Shell,
Shoprite, Target, Tesco, Texaco, Travelocity, T-Mobile, Wal-Mart, and Virgin Mobile.

The company has offices in Australia, China, Germany, South Africa, United Kingdom, and United States,
with representation in India, Korea, Japan, and South America. 

More information about ReD please visit:   http://www.redplc.com.