It’s no secret that fraudsters increase their activity and fraud attempts during the holiday season when many merchants are at peak volume, but considering other fraud factors ACI Worldwide predicts a more than 40 percent increase in fraud this holiday season. Meanwhile the FBI warns of fraudulent merchants, mobile apps with malware and work from home scams that become more prevalent during the holiday season.
According to estimates from ACI Worldwide, online retailers will see a 12 percent increase in fraud attempts globally this holiday season compared to last year, although the average purchase amount per fraud attempt is expected to be lower. Card Not Present channel fraud attempts in the United States, however, are expected to increase at a much higher rate, 43 percent by volume compared to last holiday season. This significant increase is primarily due to the expected shift in fraud to the CNP channel following the rollout of EMV cards.
