From the year 2014 to 2015, there was an 8% increase in the overall fraudulent transactions. Now, with the 2016 holiday season just around the corner, online frauds are all set to steal your season’s profit by making fraudulent orders through stolen credit cards. This infographic helps you learn all about the holiday fraud trends and the days when they are most active to safeguard your online transactions and reputation.
According to the infographic, in terms of holiday fraud trends, it is expected a 106% increase in online retail fraud in the next 3 years. Cyber criminals take advantage of currency value, shipment costs, and region-specific products. There was a 29% increase in this activity in 2015. What does this mean for your business?
First, increased chargebacks as more number of chargebacks requests are processed, you lose money. Second, dampened reputation and third, loss of customers.
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