Sixty-one percent of merchants believe they’re at greater risk of a data breach than a year ago, while 22 percent of merchants have experienced data theft in the last year alone.
America’s banks prevented $9 out of every $10 of attempted deposit account fraud in 2016, according to the 2017 American Bankers Association Deposit Account Fraud Survey Report.
Online fraud attempts and general retail transaction volumes increased substantially during the 2017 holiday season, according to new benchmark data from ACI Worldwide.
Despite awareness of the need for cybersecurity, many consumers are not taking proactive steps to keep their personal information protected from identity theft.
A new study reveals there is a lot retailers can do to boost future revenue by more effectively managing online purchase returns and fraud detection processes.
Fraudsters’ methods continually evolve to counter new fraud protection measures and with personally identifiable information, they could steal a customer’s identity or create a synthetic identity. Once a fraudster captures this information, if they are able to access a customer account or open an account, it creates a nightmare scenario with significant repercussions for the business and the customer.
A few years ago, most people would have scoffed at the thought of ecommerce becoming a necessity for retail success. Now, we know that it’s very much required for many retailers to survive.
