By Kate Hanaghan, 3 December 2001 17:20
NEWS SAS has warned that fraudulent activities over the Christmas period could cost UK retailers up to £11m. Over the festive season, consumers make purchases that are outside their typical buying patterns. These include huge amounts of alcohol, perfume and pricey electrical appliances, for example. Although technology exists that can identify certain types of fraudulent purchases - such as a card being used in two different geographical locations within a short space of time - it has a tendency to also catch completely innocent consumers in the net. SAS claims its own technology looks at the bigger buying picture, which can account for the unusual buying patterns over Christmas. This, the company argues, can reduce the level of inefficient intervention in the purchasing process. However, the company was unable to say by how much this could reduce the cost of fraud.
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