Frauds in online commerce appear to be on the wane. This is according to a study published by CyberSource. According to the study, total revenues lost in 2009 due to online fraud was $3.3 billion – a 17.5% drop from the $4 billion recorded in 2008.

Here are the estimated revenues lost due to ecommerce fraud and the percent of total online revenues transacted they constitute

2000 : $1.5 billion (3.6%)
2001 : $1.7 billion (3.2%)
2002 : $2.1 billion (2.9%)
2003 : $1.9 billion (1.7%)
2004 : $2.6 billion (1.8%)
2005 : $2.8 billion (1.6%)
2006 : $3.1 billion (1.4%)
2007 : $3.7 billion (1.4%)
2008 : $4.0 billion (1.4%)
2009 : $3.3 billion (1.2%)

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