Holiday sales account for up to 30% of online retailers’ yearly revenue, according to the National Retail Federation (NRF), and the Halloween start to the holiday retail season is significant with consumer spending expected to increase to $10.14 billion, up from $8.05 billion in 2020. This welcome surge in retail and e-commerce spend comes at the price of increased online and refund fraud particularly around the holidays. While many refunds are likely to be genuine ones, with customers wanting to exchange gifts or asking for refunds on defective items, a large number of the claims will be fraudulent with e-commerce providers having to absorb the cost.
Other unwelcome Halloween tricks will see cybercriminals launching “credential stuffing” attacks and fraudulent purchases with stolen user information along with harmful applications and browser extensions being hidden within trusted e-commerce websites, exploiting user trust and lowered security thresholds retailers are employing for higher checkout conversions.
Join our Halloween special webinar to find out how Accertify can help merchants keep the goblins and ghouls at bay and ensure retailers and end consumers alike are protected for a joyful holiday season!