Fraud prevention provider Forter’s 2017 Fraud Attack Index, done in conjunction with the Merchant Risk Council (MRC), details the rate at which ecommerce fraud attacks increased in traditional retail verticals. The study found there was a 79% increase in ecommerce fraud for domestic holiday orders. See what else the study found.
card not present
Large multichannel, ecommerce and mcommerce merchants experience between 707 and 880 fraud attempts each month, and upwards of 60% of those attempts succeed. Here’s why merchants need to effectively dispute unjustified chargebacks, but also assess and change practices that may be contributing to errors or approval of unauthorized transactions.
Cross-border merchants need more information on which fraud mitigation solutions are best for cross-border transactions, according to LexisNexis Risk Solutions’ 2016 True Cost of Fraud Study. But ultimately, what LexisNexis wants merchants to go back to over and over is address verification. Here’s why.