Small to medium sized enterprises consider credit card fraud to be a significant concern to their business which puts them off online trading, according to business chiefs in Derbyshire.

They are calling for action to be taken to protect businesses who fall victim to e-crimes such as credit card fraud.

"E-crime needs to be given the same status as crime that is committed against a bricks and mortar business. Only when this is accomplished can more small businesses benefit from having a stronger online presence," stated Dave Wait, the Federation of Small Businesses’ chairman for Derbyshire.

Some businesses are hit with charge-backs due to a transaction that the believed had been processed correctly, only to discover that it was fraudulent. This can have a massive effect on a smaller business, as they often don’t have the financial security of a larger organisation.

Only 18% of SMEs use e-commerce, even though it is a low cost method of gaining global exposure and custom, according to the recent report from the Lords Science & Technology Committee.