Online fraud is threatening the growth of online retailers, it has been revealed.
Research carried out by union Sage Pay indicates 68 per cent admit fraud remains the most daunting part of running an online business, while 75 per cent of online retailers will invest to grow their businesses this year.
Despite these findings, the study showed only a small proportion of the 1,000 respondents can demonstrate a clear understanding of the financial risks involved with conducting business online.
Simon Black, managing director at the group, commented: "Online retailers have become adept at driving traffic to their websites but there is still a significant knowledge gap when it comes to understanding and implementing payment security."
This week, technology news provider Silicon.com commented that information is the second most important resource for firms after staff and the integrity of data quality should always be emphasized as a key strategic and operation focus within an organization.