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Research Description
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The rapidity of the growth of internet technologies within the recent years has created an interesting BOOM on e-commerce development in United Kingdom by offering buyers the expediency of buying from an ubiquitous marketplace and saving sellers the cost of making expensive brick and mortar investment, comparably, the related card fraud infiltration has also created an unresolved DOOM on e-commerce performance in United Kingdom by unleashing an anonymous and low-risk avenue for criminals to steal and commit card fraud on the internet.
The vulnerability of the internet has made it impossible to transfer the chip and pin technology to the internet card payment, hence, card transactions on the internet, neither uses the physical card nor the pin, but uses translucent card details which are often compromised and used fraudulently to make internet purchases. Thereafter, In the event of fraud, neither the cardholder nor the banks suffers the lost, but all losses are transferred to the online merchant and this has impacted the development of e-commerce in United Kingdom.
This research aims to:
- Investigate the processes and circle of a card-not-present (CNP) transaction and the causes and consequences of card-not-present fraud.
- Analyse the CNP fraud infiltration techniques and identify the impacts it has on the development of e-commerce in United Kingdom.
- Evaluation of the strength and weakness of the existing card-not-present fraud preventing solutions,
- Justification of the need for an improved fraud prevention solution, and
- Presentation of the specification, design and evaluation of the ‘3WSentry’ or Who-Where-When Sentry that is proposed to authenticate cardholders in real-time to say WHO they are and also give them the options to set WHERE and WHEN to use their Cards.
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