As eCommerce and digital content boom, Corsearch and Incopro will create a global team capable of restoring trust against counterfeiting, brand abuse, and piracy LONDON, June 10, 2021
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.
Incopro’s report highlights how e-commerce platforms can protect consumers from repeat offenders and why a uniform approach is needed to significantly reduce illicit sales
1 in 5 Fake Ecommerce Listings Come from 3% of Illicit Sellers Whose Removal Could Prevent $78B in Annual Losses for Brands and Public: Incopro Study prweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prweb.com Daily Mail and Mail on Sunday newspapers.