Holiday Season Fraud Fear Higher this Year

Holiday Season Fraud Fear Higher this Year

A quarter of consumers are more worried about becoming a victim of e-commerce fraud this holiday season than they were during last year’s festive period, according to new research.

The finding was part of the new Digital Holiday Fraud in 2021 report on global e-commerce fraud trends that was published today by information and insights company TransUnion.

Analysis of global e-commerce transactions between Thanksgiving and Cyber Monday found that 7.46% were potentially fraudulent. In the United States, that figure was found to be substantially higher, at 19.66%.

Of the e-commerce transactions that occurred from January 1 to November 29 this year, 15.73% were potentially fraudulent. This figure increased by 25% during this year’s holiday shopping season.

Globally, the percentage of suspected fraudulent e-commerce transactions from November 25 to November 29 was roughly 4% higher than the same period last year, when the rate was 16.83%. 

In the United States, Saturday, November 27, was the day with the highest percentage of suspected digital fraud attempts so far this year, at 21.99%.

These findings were based on intelligence drawn from billions of transactions contained in TransUnion’s fraud analytics solution suite, TruValidate.

“The holiday shopping season is a popular time

Read More: https://www.infosecurity-magazine.com/news/holiday-season-fraud-fear-higher/