Expect Peak Holiday Fraud on Thanksgiving Day: Report
November 21, 2018
Between Thanksgiving Day and Cyber Monday, online orders spike for merchants. Every year, along with the increase in orders comes an increase in fraud. This year, fraud attempts will surge 14 percent during that time and will peak on Thanksgiving Day, according to a new report from payment provider ACI Worldwide. While the volume and value of purchases will increase from last year by even more (18 and 19 percent, respectively), the increase in fraud attempts will tax merchants' fraud departments.
"The first step to fighting fraud is knowing what you're up against," said Erika Dietrich, global director of payments risk for ACI Worldwide. "Fraudsters prepare for peak holiday season just as much as merchants and consumers do. By anticipating the increase in fraud during the holiday shopping season, and being aware of where fraudsters may be lurking, consumers and merchants can get ahead of fraudulent activity and protect themselves."
The ACI report identified buy online/pickup in-store to be a particular focus of fraudsters this year.
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