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65% Indian businesses witness rise in online fraud
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SME Times News Bureau | 23 Apr, 2019
Over the past one year, 65 per cent of Indian businesses have
experienced increase in online fraud-related losses, including account
takeover attacks and fraudulent account openings, says a report.
In
India, 87 per cent of businesses expressed heightened concern about the
potentially damaging impact of fraud, said the study by data analytics
comapny Experian.
With insights from almost 6,000 Asia Pacific
consumers, including India, the report found that the majority (71 per
cent) value security as the most important element of an online
experience, followed by convenience (15 per cent) and personalisation
(14 per cent).
"While companies continue to innovate on new
solutions that enhance the customer experience, there needs to be a
focus on reducing the customer's risk exposure by securing the data and
information they currently access," said Sathya Kalyanasundaram, Country
Managing Director, Experian India.
The study showed 65 per cent of the Indian consumers expect full transparency from businesses about use of their personal data.
The
report titled "2019 Experian Identity and Fraud Report: Asia-Pacific
Edition" highlighted that trusted online relationships are based on
businesses providing both a secure environment and seamless consumer
experiences.
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