U.S. e-commerce fraud cases double during holiday season

TransUnion, an American consumer research organization, recently released a global e-commerce fraud survey during the 2022 holiday shopping season . The survey found that the number of e-commerce frauds worldwide was 82% higher than usual in the few days from Thanksgiving to Cyber ​​Monday . Looking only at the United States, the number is as high as 127% .

According to the survey report , 15% of global e -commerce transactions between Thursday, November 24 and Monday , November 28 may be at risk of fraud .

The study also breaks down the risk of e-commerce fraud on each day of the U.S. holiday shopping season , with Black Friday and Cyber ​​Monday seeing the highest risk of transactions .

“ During the holiday shopping season , online shopping is often more vulnerable to fraud ,” said Shai Cohen , senior vice president and head of global e-commerce fraud solutions at TransUnion. “While consumers have begun to return to offline shopping in large numbers in the post-pandemic era , online retail remains the preferred holiday shopping method for many people. ”

Therefore, it is very important for e-commerce sellers to protect the safety and privacy of consumers, which can also ensure that consumers enjoy a better shopping experience.

TransUnion also revealed the most common types of e-commerce scams during the holiday shopping season in its analysis. This year, promotional inducements and account takeovers were the main scams.

“Online sellers must be equipped with the right tools to detect fraud and protect consumers during their shopping journey,” said Cecilia Seiden, vice president of retail at TransUnion. “Proper fraud solutions are now a necessity for online sellers that verify the customer’s identity at the beginning of a transaction, thereby reducing the risk of fraud.”

During the busiest days of the holiday shopping season, consumers are also expressing concerns about e-commerce fraud, as there has been a recent increase in suspected online shopping fraud cases. A recent consumer holiday shopping survey conducted by TransUnion found that 54% of U.S. consumers are worried about becoming a victim of online fraud this holiday season, an increase of 17% from last year.

TransUnion tracks reports from companies in different industries , including gaming, financial services, healthcare, insurance, retail, and travel and leisure. The above conclusions are based on intelligence from billions of transactions and more than 40,000 websites and applications.

USA

E-commerce fraud