Security News > 2021 > November > Online Merchants: Prevent Fraudsters from Becoming Holiday Grinches

Fraudsters, too, are out to grab their illicit share of the money changing hands in the weeks ahead. Especially susceptible to theft by fraud are millions of e-commerce merchants who are unprepared to identify and stop the bad transactions that should never be completed.

Jupiter Research estimates that merchants will lose $130 billion worldwide to online payment fraud between 2018 and 2023.

Merchants' losses can add up quickly with online payment fraud.

Another type of fraud that plagues retailers - both online and brick-and-mortar stores - is return fraud.

Return fraud occurs all year round but picks up during the bustling holiday season when merchants are handling larger volumes of sales and returns.

Holiday shopping should be joyful for buyers and merchants, but not for fraudsters who are out to play the Grinch.

News URL

https://threatpost.com/online-merchants-fraudsters-holiday-grinches/176513/