Press Release - The Fraud Practice Announces the Release of their Online Fraud Mindshare White Paper (Media-Based)

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The Fraud Practice Announces the Release of their Online Fraud Mindshare White Paper (Media-Based)

Understanding the Relationship of Media Coverage and Mindshare 

Red Bank, June 16, 2009/PRNewswire/- The Online Fraud Mindshare Whitepaper is a 20 page research document focusing on establishing perceived market mindshare related to online fraud between 1999 and 2009 by using aggregated media coverage to answer 10 basic questions. The premise of the research is that aggregation of media coverage over time can show general market mindshare trends due to media bias for high interest stories. News articles that have higher market interest will more likely have copy cat articles, follow on articles, blog entries and editorial responses than articles with less market interest;  therefore providing a means in which to measure overall market interest at a given time on a given subject.

The research did reveal for fraud attacks that could occur offline or online there was a strong connection between online activity and credit card fraud, identity theft and bank fraud. On average 40% of articles on credit card fraud also mention online activity. Additionally 32%, on average, of articles related to identity theft and 20% of articles related to bank fraud mention online activity.

When it comes to understanding what is more concerning to the market, online fraud or online security the research uncovered that online security has significantly higher mindshare than online fraud during the timeframe of 1999 to 2009. On average, for every 8.5 articles on online security there would be 1 article on online fraud. In 2000 media coverage related to online fraud and security doubled from 1999. This rise can be attributed to three events; (1) successful hacks into Microsoft, Yahoo and eTrade in 2000, (2) a study by the National Fraud Center in March of 2000 directly linking online purchasing to a rise in identity theft, (3) the opening of the Internet Fraud Complaint Center by the FBI in May of 2000. In 2004 another spike in interest in online fraud and online security occurs with over a 300% rise in the number of articles published in 1999. This heightened interest can be directly attributed to the emergence of large scale online phishing attacks against PayPal- eBay and financial institutions. Through May of 2009, online security topics still maintain higher interest with a 9 to 1 coverage ratio versus online fraud.

About The Fraud Practice

The Fraud Practice, http://www.fraudpractice.com, is a privately held US LLC based in Red Bank, New Jersey. The Fraud Practice provides consulting services on eCommerce payments, fraud prevention and credit granting. Businesses throughout the world rely on The Fraud Practice to help them build and manage their fraud and risk prevention strategies. Utilizing best practices and leveraging key partnerships, our team of industry and technical experts offer customers a single source for learning how to design, deploy, review and integrate fraud prevention practices in their business processes and solutions.

Contact: 
David Montague
President and Executive Consultant
 The Fraud Practice LLC
Toll Free:  +1 888 227 0402
Telephone: +1 732 678 5863

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