The convenience of online transactions greatly outweighs the current risk of online and other computer assisted fraud - provided someone else is carrying the risk. And they usually are. The cost is being borne by the Banks (card not present fraud) and Government (tax and benefit fraud).

E-commerce, which relies more heavily than offline business on cross border consumer trading.

The "leakage" of personal information, including bank and card details from the data centres and websites of employers, government departments and e-tailers is a far more serious problem.

There should be more effective international co-operation against online fraud.