Ravelin report: 62% of merchants face new fraud challenges

Thursday 10 March 2022 08:13 CET | News

Fraud prevention solution provider Ravelin has released its latest report, 'Online merchant perspectives, fraud & payments survey 2022', where it states the latest findings in the field of fraud.

According to the survey, 62% of merchants are facing different new types of fraud, as opposed to 2020 and 2021, with online payment fraud continuing to be the biggest threat of businesses. 

Friendly fraud was on the rise of around half of the merchants, with digital goods and marketplaces being the most affected. The report showed that the same merchants are the most at risk for account takeovers (ATO).

Moreover, refund abuse rose for the third year in a row, now affecting almost 25% of merchants. Similarly, digital goods and marketplace merchants are handling higher risks than other industries, causing concern for profits.

With new and old types of digital fraud continuously on the rise since the beginning of the pandemic, back in 2020, Ravelin suggests companies to invest more in fraud prevention and detection technologies without creating additional friction for customers and reduce checkout conversion rates. 

For those who want to learn more about the fraud detection solutions provided by Ravelin, you can check the company’s profile on our company database.

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Keywords: account takeover, fraud management, fraud detection, online fraud, merchant, marketplace, fraud prevention, refund fraud
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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