Security News > 2020 > October > Preventing ecommerce fraud: A look at current trends and patterns

Forter released its Fraud Attack Index, delivering in-depth insight into the impact of COVID-19 on online buyer behavior and ecommerce fraud trends.

Omnichannel fraud is growing: Buy Online, Pick-up In Store fraud rose 55% as new customer service options are subjected to significant fraud.

With transactions falling by 97% compared with H1 2019, fraud attack rates in the travel industry more than doubled, with hotel fraud attacks rising 139% and airline fraud attacks increasing 144%. Account takeover and Policy Abuse such as returns abuse, promotion abuse, and reseller abuse are set to surge during the holiday season.

Ecommerce fraud attacks decreased as a percentage of all transactions but in real terms, the number of fraud attacks has risen.

"The challenge for merchants is to deliver frictionless customer experiences without letting fraud prevention come in their way of doing so. Our recommendation to merchants is if they do not prioritize working with identity-based, integrated fraud prevention platforms that leverage behavioral analytics, machine learning and the power of big data that is informed and refined by highly trained analysts, they will never be able to stay ahead of fraudsters and policy abusers."

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