Web retailers should stop accepting transactions from customers using Yahoo and Hotmail email addresses, according to credit-reference agency checkmyfile.

The company said retailers accepting transactions from the popular web-based email services are up to seven times more likely to have to refund the owners’ credit cards due to fraudulent activity.

Customers are protected on the web by a chargeback scheme allowing them to reverse a credit card transaction if they don’t recognise a purchase, and checkmyfile said ecommerce firms are increasingly being caught out by identity thieves using Yahoo’s and Microsoft’s email tools.

“Most internet retailers have little defence against a chargeback, other than to blacklist the card on the National Chargeback Register,” said Barry Stamp, joint managing director of checkmyfile.
more.. link to news article

Must be a decent amount to this: The latest scammer I reported here that I encountered on BidUpToday has a yahoo e-mail account, so did the one instance earlier on DealGates, and I think the infamous bephanit -- or whatever derivation -- scammer from a few months ago starting in July also had a yahoo e-mail

This is not a very well thought out and/or reported article by the Reporter and/or Credit Agency.

It is sort of like saying people should not purchase Toyota Camries or Honda Accords because they are the most Stolen Cars in the USA. Of course Cameries and Accords are almost always the two top selling cars out there. It kind of make sense that crooks are stealing these cars because there are more of them out there and they are in such high demand (and their parts are in high demand).

The reporter (or agency) should have normalized the emails fraud by dividing how many fraud cases use Yahoo email against how much the general population use Yahoo email (then compare the different types of fraud emails).

They also don’t mention (or should have reported at least on) how slack or tight it is to get an Yahoo/Gmail/Hotmail email account. Which would be the real Root Cause issue…

JMHO,

AlterEgo

psunite wrote (View Post): › Web retailers should stop accepting transactions from customers using Yahoo and Hotmail email addresses, according to credit-reference agency checkmyfile. The company said retailers accepting transactions from the popular web-based email services are up to seven times more likely to have to refund the owners’ credit cards due to fraudulent activity. Customers are protected on the web by a chargeback scheme allowing them to reverse a credit card transaction if they don’t recognise a purchase, and checkmyfile said ecommerce firms are increasingly being caught out by identity thieves using Yahoo’s and Microsoft’s email tools. “Most internet retailers have little defence against a chargeback, other than to blacklist the card on the National Chargeback Register,” said Barry Stamp, joint managing director of checkmyfile. more.. link to news article

One again, it sounds like the net is going backwards. For many years, no one would accept a Yahoo, Juno or Hotmail acct. Juno was my actual ISP for several years and was my main email. Imagine the problems there. Nowadays, only the most dinosaur era sites don't accept Yahoo mail accounts. Would hate to see all that start up again. My cable internet provider doesn't provide email accounts that I'm aware of and haven't needed it.

There's no verification of your identity with hotmail and yahoo mail, i.e.: name, address, etc. Which makes those perfect mail accounts for scammers using stolen credit card information to buy online.

Easiest way to avoid all the hassles, as a retailer, is make sure your site encryption and SSL certificates are absolutely up to date, and require the CVV code on the back of the credit card for every transaction. Very few scammers have the actual card in hand, so that pretty much cuts them off at the pass.

Works for me. Don't care what email you use. No CVV number = no shippee

In response to the above posts, checkmyfile.com would like to add that our study took into account the much larger user base for yahoo email addresses, had we not then the figure would have been much higher than the one published. In other words, we took account of market share when we calculated the 7 times incidence.

Also reliance on CVV may not be as safe as suggested. Typically a skimmer will note down the details on the front and back of the card when it is used in a high volume sales environment (e.g. a petrol station or restaurant). The fraudsman does not need physical possession of the card, just the CVV.