Security News > 2020 > May > 3 ways the COVID-19 pandemic is impacting consumer behavior and fraud
A new report from Forter has found that, since its April report, there have been "New and steady increases in online consumer purchasing volumes."
The new findings, which were gathered through Forter's global merchant network-which processes upwards of $150 billion each year-look at how e-commerce consumer behavior and fraud are changing during COVID-19.
"Merchants are scrambling to cut costs, reduce the impact of fraud, and scale efficiently," said Michael Reitblat, Forter's CEO. "We have to deliver a consistent customer experience to meet rising consumer online buying behaviour. The aftermath of the pandemic will accelerate digital transformation among merchants as consumer shopping habits adapt."
Physical operations have shifted online-food and beverage reported 6.5 times the average growth rate in May. New online accounts compose 15-25% of consumer purchases, up from 5-7% pre-COVID-19.
In uncertain times, nefarious actors can take advantage of consumer fear and of vulnerabilities resulting from new offerings.