With Black Friday and Cyber Monday quickly approaching, retailers are gearing up, stocking inventory, hiring seasonal staff and even upping their cybersecurity. In this day and age, shoppers must be extremely careful when making purchases online, as bots are more sophisticated and damaging than ever before.
Account takeover or ATO attacks increased 39% on marketplaces in the first half of 2022 compared to last year, a new report states, with overall ATO attacks across sectors up 131%. ATO was up 71% in fintech, 34% in on-demand services and 9% in digital goods/services. The survey was done by Researchscape International on behalf of Sift.
Retailers should consider the impact their social strategy elements have on customer trust. This includes your choice of social platforms, the payment methods you accept, how you screen orders for fraud and how you safeguard your brand presence on social media. Identify the platforms your customers trust the most.
As with any period of economic uncertainty, fraudsters find opportunities to exploit security blind spots, often driving fraud rates up across industries. In this free Multichannel Merchant webinar, joined by Sift, learn how to build business resilience and repeatable fraud management strategies as the threat level rises in a challenging time.
Even when retailers want to pay suppliers quickly, the inefficiencies of manual accounts payable (AP) and payment processes can get in their way. This involves printing checks, chasing down signatures and mailing. To address these issues, many retailers are using software to automate and optimize services to support those efforts.
Unfortunately, the increase in ecommerce has led to a wave of all kinds of bad actors. In 2020 alone, online retailers lost over $3.8 billion to click fraud on ecommerce ads. To stop click fraud, brands must be knowledgeable about it, learn why they tend to be the primary targets, and be aware of the various schemes.
About 6,000 customer records from Home Depot, acquired by a hacker in 2020, are being offered for free on the dark web, according to the company, while a firm that tracks such activity claimed a substantially higher figure. The information included addresses, phone numbers, delivery records, brands purchased and orders.
To help you address the growing ecommerce fraud threat, join Multichannel Merchant and Sift on Feb. 17 at 2 PM ET for a live webinar, “The Dark Web, Account Takeovers and You.” You’ll hear how leading retail and ecommerce companies are gaining competitive advantages by proactively preventing payment fraud, ATO and content abuse.
Ecommerce has become an ingrained part of our lives, as most find it an effortless, convenient alternative to retail shopping, especially considering the times. Unfortunately, bad actors always find ways to mess with the system and conduct all manner of fraud. With that in view, here are 4 proven ways to mitigate ecommerce fraud.
Flexible returns policies increase customer confidence, especially for ecommerce purchases, which is why savvy marketers dedicate themselves to ensuring an easy process. However, this frictionless approach also opens the door to those looking to exploit it. Here’s how to deal with ecommerce return fraud this holiday season.