Fraud Transactions to Jump
The holiday shopping season is upon us, and it’s expected that over the Thanksgiving to Cyber Monday weekend, US merchants will experience an increase of 20% in transaction volume and value, compared to the same period in 2013. And that means gold for cyber-criminals looking to push through millions in bogus transactions.
Retail Decisions is predicting an increase in fraud attempts during this holiday season, and expects them to account for 2.5% of all sales. A large percentage of this increase is likely to be focused on ‘buy online, pick up in-store’ sales as well as last-minute purchase options, such as digital downloads and virtual gift cards just prior to Christmas.