Security News > 2020 > December > Holiday shopping season fraud stats revealed

There's a 1% decrease in suspected online retail fraud worldwide during the start of the 2020 holiday shopping season compared to the same period in 2019, a 59% increase from the same period in 2018 and a 14% increase from all of 2020 so far, TransUnion research reveals.

The concern is relatively uniform across generations, though Gen X are the most worried about being victimized at 53%. Heading into the holiday shopping season, the study conducted from Oct. 28 to Nov. 5, 2020 found 37% of 9,515 consumers surveyed globally said they had been targeted by digital fraud related to COVID-19, a 28% increase from the same survey the week of April 13, 2020.

"With the COVID-19 pandemic accelerating the move from offline to online transactions, detecting digital fraud attempts has become paramount for e-commerce providers," said Shai Cohen, Sr. VP of Global Fraud Solutions at TransUnion.

Consumers used a mobile phone or tablet for 58% of their online retail transactions during the start of the 2020 holiday shopping season.

A mobile phone or tablet appeared to be used for 52.51% of all suspected fraudulent e-commerce transactions during the long holiday shopping weekend this year compared to 63.76% for the same period in 2019 and 60.37% for the same period in 2018.

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