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Fraud attempt rates spiked during holiday season

Tuesday 16 January 2018 00:26 CET | News

New ACI Worldwide benchmark data sourced from top US merchants has revealed that web fraud attempts and general retail transaction volumes increased substantially during the 2017 holiday season.

Fraud attempts in the period from Thanksgiving Day to December 31 increased by 22%, while the number of overall transactions increased by 19%. Fraud attempt rates were highest on Thanksgiving Day (1.94%, up from 1.26% in 2016), Christmas Eve (1.78%, up from 1.48%) and December 21 – the cutoff date for express shipments – (1.67%, up from 1.49%).

The trends driving these peak fraudulent days include shipment cut-off, consumer traffic and buy online pick-up in-store transactions. The average ticket price of attempted fraud transactions over the entire holiday period in 2017 was USD 227, a 1% increase from 2016 (USD239). Reduced shipment prices, low-priced electronics and promotions are driving this trend. The overall volume of purchases recorded in January-October 2017 increased by 14%, compared to the same period in 2016.

ACI’s benchmark survey data is based on hundreds of millions of ecommerce retail transactions from global merchants using ACI ReD Shield.


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Keywords: web fraud, ecommerce, holiday shopping season, merchants, US, study
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime






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