Suspected digital holiday shopping fraud coming from Hong Kong decreases 29 percent compared to last year

Monday 20 December 2021 13:20 CET | News

A TransUnion research around global ecommerce fraud trends that occurred during 2021 holiday shopping season has revealed that for transactions originating from Hong Kong, the percentage decreased 29.20% in the same timeframe.

The analysis found 17.46% of all global ecommerce transactions between 25 November and Cyber Monday were potentially fraudulent. In Hong Kong, 20.47% were suspected fraudulent during that same period and including Double Eleven Shopping Festival on 11 November.

The global percentage of suspected fraudulent ecommerce transactions is 3.74% higher than the same five-day period leading up to Cyber Monday last year. 

The analysis also observed the top two reasons globally for potentially fraudulent ecommerce transactions in the five days leading up to Cyber Monday. The top reason was the number of accounts per device, which triggers when a device has accessed the minimum number of accounts during the set time period. The second was evidence exists, which occurs when an account or device has previously had a fraudulent transaction.

These findings are based on intelligence from billions of transactions, and more than 40,000 websites and apps contained in TransUnion’s fraud analytics solution suite.

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Keywords: fraud prevention, TransUnion, ecommerce, report
Categories: Fraud & Financial Crime
Countries: Hong Kong
This article is part of category

Fraud & Financial Crime

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