Criminals increasingly take over the retail accounts of legitimate consumers or use stolen identity data to create phony accounts that they use to commit fraud against online retailers. This criminal activity spikes during the holidays, when retailers’ fraud-prevention teams are stretched thin. Here are some ways to protect yourself.
Account takeover fraud and new account fraud rates are rising. Impostor attacks by organized criminals are targeting retail, travel, gaming and other verticals. False declines are on the rise, too, costing merchants far more than fraud. And the holiday shopping season, also a peak season for ecommerce fraud, is almost here. How can merchants sort out the fraudsters from the good customers this holiday season?