As consumers have begun holiday shopping earlier than ever, merchants are expecting historical peak trends, and fraudsters will try to take advantage of this. To prepare for the uptick in BOPIS fraud this holiday season, consider enacting both short-term and long-term fraud mitigation strategies to protect yourself and your customers.
For retailers, massive holiday ecommerce this year raises the prospect of more customer complaints, lost package claims, returns due to delays and possible shipping fraud as harried customer service agents try to keep shoppers happy by making post-order changes. Here’s how you can plan now to keep holiday customers happy.
Shadow Code effectively solves real problems and accelerates web development, critical to giving online holiday shoppers a stellar experience. But it does carry risks and could Grinch the holidays. You need to build guardrails that enable your team to develop innovative web applications while detecting and stopping malicious code.
Digital fraudsters are nothing if not opportunistic, and the current pandemic is an excellent example. Many reports from consultants and researchers talk of increasing scams and tricks, and “content fraud” is on the rise. Jeff Sakasegawa, a trust and safety architect at fraud prevention firm Sift, talks about the problem and his findings.
COVID-19 has quickly reshaped web traffic and app usage patterns; for example, skyrocketing traffic to food delivery services. The rapid consumer behavior shift has morphed attack patterns, expanded the threat environment and added pressure against many site operators unaccustomed to so much fraudster attention.
If nothing else, bad actors perpetrating ecommerce transaction fraud are clever opportunists, and a crisis like the ongoing coronavirus outbreak is proving a perfect opportunity for them to prey upon unsuspecting sellers and consumers, experts agree. The rise of contactless deliveries and working from home are among the entry points.
The U.S. government is cracking down on the sale of counterfeit ecommerce items and pirated goods, warning of stricter rules and penalties for participants in a rogue economy that was valued at $509 billion in 2016. A DHS report announcing the crackdown came in response to an April 2019 memorandum from President Trump.
So-called Grinch bots buy up popular toys in bulk at Christmas and resell them at a profit. They affected as much as 97% of traffic to ecommerce sites in the week ending Cyber Monday, Radware claimed. Now Congress is considering legislation for the third time to combat the threat. Will a new law or technology solve the problem?
Marketing fraud ─ including skewed analytics, ad fraud, affiliate fraud and lead fraud ─ is a growing problem for online businesses in every industry, and it’s more pronounced over the busy holiday shopping season. Juniper Research estimates that in 2019, advertisers around the world will lose $42 billion of ad spend to fraud.