via CyberSource

Online-payment security company CyberSource has named Nigeria the riskiest country and New York the riskiest U.S. city for e-commerce transactions reports Internet Retailer.

The two locales have the highest concentration of e-commerce transactions that turn out to be fraudulent - conducted via a stolen credit card or other dubious method - according to a CyberSource survey of retailers.

New York City received the highest number of mentions for fraudulent transactions; it was cited by 9 percent of respondents. That’s down significantly from last year’s 18 percent. Nigeria was cited by 31 percent as the highest-risk country, easily beating second-place Russia (9 percent).

The higher awareness of fraud and more specific reporting are good signs, CyberSource’s Dough Schwegman says, because it means more e-tailers are employing safeguards against fraud and are maintaining a high level of vigilance.