Payment Fraud
European Commission reported that payment fraud is still on fire in the face of recent strategies to bring down the crime and it really got the web community to demoralize their confidence in transacting over the internet.
The commission detailed information on countermeasures and fraud between 2004 upto 2007 revealed that although the number exposed crime is a small minority of the total number of buying and selling using the new implement payment services. Additionally the crime is progressively adding and moving toward to non face-to-face Internet transactions.
Lately the European Union legislation and tackle the concerns thru a payment services directive and a money laundering directive.