Merchant Risk Council (MRC) has partnered with Cybersource to produce its annual Global Fraud Survey, a detailed report that outlines the latest trends in eCommerce fraud prevention. This informative survey provides insights into the latest fraud-related data, the impact of COVID-19 on fraud prevention strategy, and robust industry benchmarks sourced from 650 global merchants.
The key results and findings from this year’s survey are organized into three focus areas within this report, each covering a central question integral to understanding the state of eCommerce fraud and merchant fraud management.
Business Impacts of Fraud
What are the effects of fraud?
- Fraud attempts, costs, and other fraud management KPIs have increased
- MRC members are reporting lower fraud rates by revenue and using a wider variety of fraud prevention tools
- Most organizations want to reduce their dependency on manual review
Range of Fraud Attacks
Where are merchants most vulnerable?
- The variety of fraud attacks merchants experience has declined (although the volume of attacks has increased)
- Friendly fraud and card testing have surpassed phishing/pharming and identity theft as the most common attacks, globally
Fraud Prevention Strategies
How are merchants addressing the issue?
- Protecting and improving the customer/shopping experience has become the main strategic imperative for merchants related to fraud management practices
- Merchants are rationalizing their fraud management toolkits, relying more heavily on just a handful of widely used tools
- Many of the most effective tools are not the most widely adopted by merchants
What are the latest global fraud patterns and how do they affect your region?
Download our 2021 Global Fraud Survey Report to find out!
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