QUICK HIT: Online Fraud Attempts Jump 22 Percent

Online fraud attempts in the U.S. during the 2017 holiday shopping season, according to benchmark data from ACI Worldwide, increased by 22 percent.

The report revealed that fraud attempts were highest on Thanksgiving day, Christmas Eve and and Dec. 21 -the cutoff day for getting items express shipped in time for the holiday. The 22 percent increase also coincides with a 19 percent increase in overall transactions during the holiday shopping season.

As ecommerce growth continues, the company suggested that merchants must remain proactive in their efforts to identify weak points in their omnichannel payment process. as higher order/activity volume means an increase in opportunities for criminals to take advantage. 

ACI gathered its data for online fraud attempts during the holiday season from ReD Shield, the ecommerce fraud prevention portion of its business.