e-commerce fraud Archives - AfricaBusiness.com

Concerned merchants increase fraud budgets and grow fraud teams Increased automation is crucial and will ultimately help merchants save more and improve efficiency New solutions are desperately needed as businesses struggle to address spiralling fraud Most still using expensive and unsustainable in-house solutions Merchants will lose more than £39 million to fraud in 2023 Businesses worldwide plan to significantly increase the money they spend on fighting fraud, according to new research from Ravelin. Globally 75% of merchants polled say they will increase their spending on fraud, with one in five saying they expect spending to increase by 20% or more. In the UK 62% of merchants say they would be increasing investment in fraud, while in the US, the figure is 69%. In othe...

Online merchants fight to address spiralling fraud and are looking to find new solutions - most still using expensive and unsustainable in-house solutions Businesses are budgeting more to grow their fraud teams and capabilities Concerned merchants are increasing fraud budgets and growing fraud teams Businesses worldwide are working hard to fight fast-growing e-commerce fraud, which is impacting their bottom line, according to new research from Ravelin. In the last year alone, e-commerce fraud has significantly increased, posing a greater problem to businesses. In particular, online payment fraud is up 59%, account takeover has grown by 51%, while promotion abuse is up 52%, refund abuse is up 53%, and customer fraud / friendly fraud is up 40%. To address the problem, merch...

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Merchants around the globe increase spend to tackle E-commerce fraud crisis

E-commerce fraud is fast becoming a crisis for merchants across the globe