In the last twelve months, merchants have seen a huge leap in online payment fraud (up 59%), account takeover (up 51%), promotion abuse (up 52%), refund abuse (up 53%) and customer fraud / friendly fraud (up 40%). Merchants are now throwing more and more money at the crisis and expanding fraud teams in a bid to mitigate losses. Three-quarters (75%) of all online merchants say fraud budgets will grow this year (global average figure.) In the UK 62% will be spending more on managing fraud. This rises to 70% in…
Read MoreE-commerce fraud is growing fast and financially impacting businesses across the globe, according to new research from Ravelin
