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Merchant Fraud Journal Releases 2024 Fraud Trends Report With Insights From 10 Leading Fraud Solutions

Merchant Fraud Journal Releases 2024 Fraud Trends Report With Insights From 10 Leading Fraud Solutions
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Reports: Fraud a concern for merchants, brands - Ecommerce

Reports: Fraud a concern for merchants, brands Online payment fraud could cost online merchants as much as $20 billion in 2021. That is a key takeaway from new Juniper Research data which predicts that the influx of inexperience digital shoppers during the pandemic could cause ecommerce fraud to skyrocket from $17.5 billion 2020 to more than $20 billion this year. That would be an increase of about 18% YoY, much brought about by fraudsters who are targeting consumers who aren t as savvy at protecting their financial information in the digital space. To staunch the flow - and to protect their shoppers, Juniper s experts believe digital merchants must up their fraud prevention strategies across the ecommerce space, utilizing AI to spot potential fraudsters before damage can be done.

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