Sift released its Q4 2020 Digital Trust & Safety Index: Holiday Fraud and the Shifting State of E-commerce, which revealed that fraudsters are executing larger and more targeted attacks this holiday season. Derived from Sift’s global network of over 34,000 sites and apps, the Index found the average attempted fraudulent purchase value rose to over $700 from October through November 2020, a 70% year-over-year increase during the same period in 2019.
Black Friday and Cyber Monday in 2019 were lucrative targets for cybercriminals. Researchers recorded a 63 percent malware spike between November 25 to December 2.
Fraudulent transactions where a credit card is not physically presented to a merchant—increased significantly from Black Friday to Cyber Monday 2016 when compared to the same period in past years.
