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Your suspicions are correct: ecommerce fraud is on the rise. A nearly 30% rise, to put an exact number on it, according to a year-over-year study from LexisNexis Risk Solutions. Even more troubling: that figure is almost twice the growth of ecommerce sales, based on data from
Digital Commerce 360.
To make matters worse, ecommerce merchants have to fight fraud on two different fronts. For one, you have to protect yourselves from schemes targeting merchants specifically, like fraudulent chargebacks or site mimicking (see below).
But on top of that, you also have to protect your customers from scams as well. Harboring scammers on your site is a kiss of death for online stores, even if you’re as much of a victim as your shoppers.
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