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iovation findings show increase in holiday fraud

Friday 6 December 2019 12:45 CET | News

iovation, a TransUnion company, has revealed new findings around online retail trends during the start of the 2019 global holiday shopping season.

The findings are based on the online retail transactions analysed for its ecommerce customers between Thanksgiving and Cyber Monday over the last three years. As per the research, in comparison to the period during the start of 2018 holiday shopping season, in the same period of 2019 there is a 29% increase in suspected online retail fraud, and a 60% increase in suspected ecommerce fraud during the holidays from 2017 to 2019.

The countries where the highest percentage of suspected fraudulent ecommerce transactions originated from during the start of the 2019 holiday shopping season are: China: 57%, Central African Republic: 57%, Lebanon: 45%. In the US, the most affected regions are: Oregon: 70%, Louisiana: 42%, Louisiana: 38%.

Moreover, iovation suggests that consumers used a mobile phone or tablet for 63% of their online retail transactions during the start of the 2019 holiday shopping season. For the holiday shopping weekend, retail transactions from a mobile phone compared to all ecommerce transactions were: 64% on Thanksgiving, 63% on Black Friday, 67% on 30 November, 66% on 1 December, 57% on Cyber Monday.


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Keywords: iovation, holiday fraud, ecommerce, shopping, retail transactions, fraudulent activities, mobile transactions
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions