Security News > 2021 > November > Ecommerce retailers facing a 350% increase in fraudulent online orders

As the holiday shopping season hits full stride, ecommerce retailers across Europe face a new era of malicious attacks spurred by a COVID-inspired transformation in ecommerce and a 350% increase in fraudulent online orders, according to data published by Signifyd.

Retailers can expect a more perilous fraud landscape through the holiday shopping season and beyond.

The golden age of ecommerce fraud A 350% increase in fraud pressure by mid-2021.

The pandemic ushered in a "Golden age of ecommerce fraud" fueled by several factors, the report says.

European retailers are facing historic fraud pressure at a time when the payments landscape is undergoing upheaval due to the enforcement of PSD2's Strong Customer Authentication requirement.

SCA was instituted to protect retailers and consumers from online fraud.

News URL

https://www.helpnetsecurity.com/2021/11/30/fraudulent-online-orders-increase/