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