This dynamic period of fraudulent activity is a steady state of the new normal
American retailers are facing a 350% rise in fraud pressure. Source:?shutterstock.com
According to a report released by Signifyd, US retailers will face a new era of online fraud this holiday season with more numerous, more automated and diverse attacks in terms of methods and targets.
In fact, Signifyd’s 2021 Fraud Report recorded a 146% increase in automated fraudulent attacks in 2020. Also, data predicts a doubling of the number of consumer abuse, including false claims that the order never arrived, in H1 2021. It may also raise the pressure of fraud by 350% – orders are deemed to be fraudulent – by mid-2021.
Particularly, the fraud report highlighted several types of attacks that have undergone a transformation and are likely to persist during the crucial period of holiday shopping and beyond. These include innovation or increase in:
- Account takeover
- Curbside and buy online, pick up in-store schemes
- False item not received claims
- Return fraud
- Automated card testing
- Synthetic Identities
- Mule Fraud
- Promotion abuse
- Unauthorized reselling
We’ve reported that BigBuy now covers all European Amazon marketplaces.
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