How marketers can protect from fraud during the holiday season

07-Nov-2017

The holiday season isn't only the season of giving, it's the season of taking. At least where fraudsters are concerned. In fact, more than 10% of transactions may be fraudulent this holiday; Kount has reveal a few keys for marketers to protect themselves from fraud.

With more people moving online to shop for the upcoming holiday season, marketers need to up their fraud protection game. That's the word from Kount; they looked into the 2016 holiday shopping season and found that about 11% of desktop transactions were attacked by fraudsters. Nearly 7% of mobile browser transactions were attacked.

And, these attacks didn't only happen during last year's holiday; on average about 11% of both mobile and desktop shopping transactions were attacked through Q1 2017.

'Our data shows that chargebacks seen in Q1 are a huge problem for merchants, and one that will only to continue to grow if retailers don't get a handle on their fraud problem,' said Don Bush, VP of Marketing, Kount. 'Chargebacks reports are included in calculating our average fraud attacks, which spiked in Q1 2017 due to holiday fraud from the previous quarter. Q1 2017 reporting showed an increase in fraud among all device types over what was seen during 2016's holiday retail quarter.'

Marketers can protect themselves by having a fraud prevention system in place. This includes knowing the type of device - tablet, phone, desktop, etc - shoppers are using, using AI to help identify fraudulent purchases, and to link orders with shopping personas to help identify and reveal fraudsters.