Regardless of ratcheted-up efforts to forestall account takeover, fraudsters are cashing in on a spread of on-line fee fraud schemes, which researchers predict will price retail organizations greater than $343 billion over the subsequent 5 years.
Bodily good purchases are loss leaders, making up 49% of on-line fee fraud, pushed largely by creating markets with little handle verification, in keeping with a brand new Juniper Analysis report.
“Essentially, no two on-line transactions are the identical, so the best way transactions are secured can’t comply with a one-size-fits-all resolution,” Nick Maynard, the report’s writer, defined in a press release together with the most recent on-line fee fraud findings. “Fee fraud detection and prevention distributors should construct a large number of verification capabilities, and intelligently orchestrate totally different options relying on circumstances, in an effort to accurately shield each retailers and customers.”
