The Changing Face of Fraud 2021

The Changing Face of Fraud:
Accertify’s Annual Merchant Survey Results 2021

Executive Report

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Merchants consider their fraud management options and consider available technologies as they battle evolving fraud threats.

While fraud has been a threat for merchants long before the arrival of COVID-19, the rate of fraudulent activity has increased dramatically since the onset of the pandemic. According to Norton, a record-breaking collection of more than 1.4 billion stolen records has been discovered on the dark web last year alone.

In the past two years, fraud has cost businesses roughly $42 billion worldwide. These increases have come about despite the attention and resources merchants have focused on processes and technologies designed to detect and deter cybercriminal behavior.

According to a survey commissioned by Accertify and conducted by Arizent Research / PaymentsSource more than eight in 10 leading merchants (84%) have experienced an increase in fraud over the past year. As fraud professionals have continued to implement defenses, criminals have become more sophisticated, causing organizations to become increasingly concerned about a broader array of fraud types. Finding and implementing the best technologies and processes to deal with these evolving threats will be a critical for merchants in the coming months and years.

Download this Survey Report to learn more how fraud prevention professionals at leading merchants are battling fraud.

Interested in learning more about how to combat fraud?

Merchants that partner with fraud management experts at Accertify, are more likely to be effective at reducing customer friction and fraud.

Request a consultation to learn how you can use the collective intelligence of our team and our community to streamline transactions and guard against payment fraud.