E-commerce fraud attacks in Mexico increased 220 percent during the pandemic, according to a new report. While e-commerce surged around the world, and fraud attacks kept pace, the Spanish-language report by antifraud technology provider Signifyd said Mexican merchants not only had to contend with significantly more fraud, but with very different types of attacks than they were used to.
Account takeover, automated bot attacks, account creation and returns abuse, while familiar to fraud fighters elsewhere, are newly on the rise in Mexico. ATO attacks increased 239 percent during 2021, while bot attacks for things like credential stuffing rose 146 percent. Fraudsters began attacking the omnichannel experience in Mexico as well, with fraud attacks launched from in-store kiosks up 149 percent from the year before.
“Overall, what I’ve noticed this year is that the fraud we are seeing has become more complex, particularly with the occurrence of account takeover fraud increasing,” said Luz Cervantes, Signifyd’s manager of risk intelligence. “So many more accounts can and are being compromised across the board and I don’t see it stopping anytime soon.”