Online payment fraud ranks as one of the most significant threats for digital marketplaces

Wednesday 15 September 2021 15:12 CET | News

A study by Ravelin has shown that online payment fraud is still the number-one fraud concern for digital marketplace organisations, with more than three quarters of firms ranking it as one of their most significant threats.

The study shows that online payment fraud is a particular concern for marketplaces that connect buyers with third-party sellers of goods and services. 81% of goods and services marketplace organisations say that online payment fraud is one of their biggest threats, compared with 78% for taxi app companies and 68% for online food delivery companies.

Account takeover, where fraudsters obtain a customer’s account login details and use them for illegal activity, is another significant threat facing these companies. 79% of taxi app firms, 74% of food delivery services, and 69% of goods and services marketplaces all say that account takeover is one of their biggest fraud threats.

Account takeover appears in the top three list of fraud threats for 74% of online food delivery companies, which is higher than the proportion of companies in the same sector (68%) listing online payment fraud as one of their top three threats.

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Keywords: online payments, online fraud, study, account takeover
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events