Regardless of ratcheted-up efforts to stop account takeover, fraudsters are cashing in on a variety of on-line cost fraud schemes, which researchers predict will price retail organizations greater than $343 billion over the following 5 years.
Bodily good purchases are loss leaders, making up 49% of on-line cost fraud, pushed largely by growing markets with little deal with verification, in response to a brand new Juniper Analysis report.
“Essentially, no two on-line transactions are the identical, so the way in which transactions are secured can not comply with a one-size-fits-all answer,” Nick Maynard, the report’s creator, defined in a press release together with the most recent on-line cost fraud findings. “Cost fraud detection and prevention distributors should construct a mess of verification capabilities, and intelligently orchestrate totally different options relying on circumstances, as a way to accurately shield each retailers and customers.”
