Monday, October 22, 2018

Balancing Fraud Protection and Frictionless Checkout

Written by Krista Garcia

 Article from eMarketer

 As an industry, retail is one of the most vulnerable to cybercrime. Ecommerce transactions can provide a wealth of fodder for fraudsters, including personal information and credit card details.

According to a Q2 2018 ThreatMatrix report, ecommerce companies using its digital identity network experienced 91 million attacks, which is business as usual as the figure was consistent with the same period last year.

The types of cybercrime, however, are changing. An attack rate of 24.2% means nearly one in four new accounts created on ecommerce sites in Q2 2018 were fraudulent, a 130% increase year over year.

Account login fraud using stolen credentials was the second-most common attack (10.2%) while using stolen payment credentials made up 3.0% of total attacks.

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