The survey listed 11 fraud prevention tools, and asked merchants whether they used them and which they rated as most effective at reducing online fraud. The least utilized tool was a custom-built neural network, with only 12 percent of merchants indicating they use this fraud prevention method. Merchants taking the survey represent large, midsized, and small online sites. Sixty percent of merchants reported they spend less than 1 percent of total revenues on fraud prevention. Nineteen percent listed about 1 percent of revenues, and 10 percent reported they spend more than 3 percent of revenues on fraud prevention.
Any jackass can kick down a barn, but it takes a good carpenter to build one.
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