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BizReport : Ecommerce archives : January 22, 2016

Data reveals huge rise in attempted fraud among new ecommerce delivery methods

Between Thanksgiving and the end of 2015 ecommerce transactions rose significantly, but so did fraud attempts, according to new benchmark data from ACI Worldwide.

by Helen Leggatt

Fraudsters are following the online money and, while fraud attempts exist throughout the year, the holiday shopping season online is a huge draw. According to new benchmark data from ACI Worldwide (infographic), while the number of e-commerce transactions grew by 21% YoY between Thanksgiving and the end of 2015, fraud attempts grew by 8%.

fraudattempt.pngFraud attempts were at their highest on Christmas Eve, Thanksgiving, Black Friday and on holiday shipment cut-off days. This, says the report, is due to two factors - one is that gift cards, which have the highest fraud attempt rate, are popular last minute gift purchases, along with the rise in click-and-collect which has the highest rate of attempted fraud than any other delivery method.

In fact, relatively new delivery methods such as click-and-collect and express delivery appear to have quickly become prime targets for fraud attempts. Click-and-collect saw a 47% YoY increase in fraud while overnight and next-day orders saw a 50% YoY rise.

Image via Shutterstock

Tags: delivery, ecommerce, fraud

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