If you’re an eCommerce retailer that sells Electronics, these facts are why you need a robust anti-fraud system:
- Electronics as a category is a top 3 target for CNP fraud
- 31% increase in card-not-present (CNP) fraud attempts during 2016 holidays in the U.S.
- CNP fraud losses are projected to soar 80% to a record $7.2 billion by 2020
At the same time, online Electronics retailers have indicated strong concerns with the growing cost and complexity of fraud prevention. And the problem isn’t just for large eCommerce operations. Fraudsters are making the strategic decision to move “down the food chain” and target smaller retailers as their tools of the fraud trade have given them automation options. In the past 36 months, retailers have taken steps to dramatically increase their fraud mitigation efforts, but that can have substantial costs as well.Read More