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Digital Identity, Security & Online Fraud

Fraud and retail growth up during 2016 holiday season

Wednesday 18 January 2017 | 09:46 AM CET

Fraud and general retail growth each have increased during the 2016 holiday season, according to new benchmark data from ACI Worldwide.

Fraud attempts increased by 31%, while the number of overall transactions increased by 16%. The survey data, based on hundreds of millions of transactions from global merchants during the 2015 and 2016 holiday shopping season highlights key shopping — and fraud activity — trends. ACI ReD Shield, a CNP fraud detection and prevention solution for ecommerce merchants, processed 7% of Black Friday’s online spend and 13% of Cyber Monday’s total online spend.

Fraud attempt rates were highest on Christmas Eve (1.6%), Shipment Cutoff Day (1.5%) and Shipment Cutoff — Express (1.7%). The trends driving these peak fraudulent days include shipment cut-off and buy online pick-up in-store Average ticket price of an attempted fraud transaction decreased by 7% (USD 228 in 2016, down from USD 243 in 2015).

During the 2016 holiday shopping season, the number of fraud attempts based on total population increased compared to the same time in 2015. In 2016, 1 out of every 97 transactions was a fraudulent attempt and in 2015, 1 out of every 109 transactions was a fraudulent attempt.

More: Link
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