The British Retail Consortium is calling on banks to help tackle the problem of credit card fraud.
The BRC says that online retailers should be able to rely on banks, feeling that the responsibility for investigation lies with them.
The BRC's announcement came after one online retailer, Easy Computers, took legal action against HSBC for the loss of £18,000, which came about as the result of a series of fraudulent transactions.
At present, under rules governed by a process known as 'charge back', banks are able to transfer the cost of fraud to retailers.
However, a spokeswoman from the BRC said that with the rising levels of internet fraud it was now crucial that retailers received appropriate levels of support from banks.
"Many online retailers find it difficult to absorb the extra costs incurred by charge backs and accept the risks associated with 'card not present' transactions.
She added: "Retailers need support and should be able to rely on banks to investigate the reasons for fraud, especially for those cases where a retailer can prove they followed appropriate procedures.
"Whilst banks do not have to accept liability, it is still their responsibility to ensure that their security systems are effective and are not being breached."
BRC calls on banks to tackle credit card fraud
BRC calls on banks to tackle credit card fraud
Fri, 15 Apr 2005
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