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The Cyber Crime Report - Retailers need to buckle down on Fraud

  • Broadcast in Technology
Brent MacLean P Eng

Brent MacLean P Eng


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A misperception often shared by retailers and the public alike is that e-commerce losses to fraud are growing like wildfire. In fact, fraud losses, at least as a percentage of online sales have remained just about the same for the last three years: 1.4%. But as e-commerce sales have grown, that steady percentage of fraud has meant that dollar losses have inexorably climbed as well. Last year, retailers and other entities engaging in e-commerce in North America lost an estimated $4 billion to fraud, an alarming 11% increase over the year before. So there is little inclination on the part of retailers to relax their e-commerce vigilance. The problem is how best to spread always-limited anti-fraud budgets over the available tools and processes. It is a challenge for the largest merchants and it can drive smaller organizations to distraction. Sign up for our newsletter at www.jbm.net. Stay safe and stay educated; so keep tuning in for more great intel.