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NYC No. 1 In E-Commerce Fraud
The bulk of online fraud in the United States comes from New York City, followed by Atlanta, Chicago, Los Angeles, Omaha, San Francisco, Houston, Washington, D.C., and Lexington, Ky., according to a ThreatMetrix study.
The study concludes that if a person conducts online transactions in New York City they are most at risk of fraud.
ThreatMetrix sampled nearly 1 billion transactions handled by U.S. e-commerce vendors during the first quarter of 2012 to assess key fraud areas and scored each transaction as either low-, medium-, or high-risk.
High-risk transactions are usually rejected automatically by merchants while medium-risk ones tend to result in manual reviews.
"As fraudsters grow more sophisticated and expand globally, it's only natural that large cities with international profiles, easy access to shipping, and high connectivity rates will become breeding grounds for new generations of cyberthreats, including both fraud and malware," says ThreatMetrix's Alisdair Faulkner.
"We would expect to see a highly connected city like San Francisco rank higher, but perhaps the relatively substantial penetration of Apple devices, which are largely seen to be less vulnerable to malware, explains its relatively low ranking."
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