New customers and curbside pickup increase ecommerce fraud risk (digitalcommerce360.com)

Online retailers of physical goods are seeing five times as many new customers now than they did before the pandemic, according to a new report from Forter, increasing both fraud risk from criminals trying to pose as good customers and the risk of turning down legitimate shoppers. A separate study from Sift shows criminals are taking over customers’ accounts more frequently as a way to steal.

Two reports released today by fraud-prevention technology providers show how the coronavirus pandemic is creating new challenges for online retailers trying to distinguish the growing number of legitimate online shoppers from criminals seeking to commit fraud. Both note how the rapid growth of curbside pickup is increasing the likelihood of retailers suffering fraud losses.

The study from Sift emphasizes the dramatic growth in criminals attempting to take over the accounts of good customers since the coronavirus closed down many stores in March. It explains that account takeovers enable criminals to order online and pick up goods outside stores with relatively little risk of being apprehended due to protocols requiring face masks and social distancing.
more at source: https://www.digitalcommerce360.com/2020/09/30/new-customers-and-curbside-pickup-increase-ecommerce-fraud-risk/

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