With the advent of e-commerce merchants can do their business almost boundaries-free, quicker and easier and reach their customers worldwide through a simple click. Since almost every business includes a payment step, anyone conducting online transactions unfortunaltely runs a risk of being defrauded. Some fraudsters rely on the internet to commit their crimes but even if daily a lot of stores all over the world have to deal with fraud, they still are successfull. The lesson to be learned is to stay educated and vigilant about this issue and put appropriate preventive measures in place and have systems that check transactions for fraud, in order to minimize the risk.
For further details see:"Common types of online fraud" by Attitude
<note>Read the full document of the Merchant Risk Council "Fraud Management Best Practices for Online Retail" (Chase Paymentech, October 26, 2011) </note>