Social distancing changes shopping behaviours, TransUnion research finds

Wednesday 25 March 2020 12:29 CET | News

TransUnion has released new research that quantifies the spike in digital commerce since social distancing became widespread globally. 

The company found a 23% increase in global ecommerce transactions in the week following the World Health Organisation declaring the novel coronavirus outbreak a pandemic on 11 March, compared to the average weekly volume in 2020. Moreover, in a survey of 1068 Americans, TransUnion found 22% said they have been targeted by digital fraud related to COVID-19. 

TransUnion revealed significant ecommerce fraud and transaction trends:
  • 42% decrease in promotion abuse from 2018 to 2019 – cybercriminals access accounts to drain loyalty points or create multiple new accounts to use the same promotion over and over, often against website and app terms;
  • 78% of all ecommerce transactions came from mobile devices in 2019 – that’s a 33% increase from 2018;
  • 118% increase in risky transactions from mobile devices in 2019 – fraudsters are trying to replicate consumer behaviour of ecommerce transactions that come from mobile devices, in order to avoid detection.

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Keywords: TransUnion, social distancing, shopping, ecommerce, transactions , digital fraud, abuse, cybercriminals, loyalty points, risk, consumer behaviour, mobile payments
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime