Five eCommerce Fraud Predictions for 2021

eBook

The global pandemic has had a profound impact on eCommerce fraud and there are many questions about how fraud will evolve and which types of cybercrime attacks will prevail. In this eBook, we cover five predictions for 2021 that are based on developments in financial fraud, the regulatory landscape and the eCommerce space.

We can expect to see a global increase in eCommerce fraud and the number of customer service disputes will increase as buyer remorse and friendly fraud disputes are reclassified using reason codes that are more appropriate.

Cybercrime attacks that target authentication technology, data, and social engineering will rise. This will result in an increase in SIM Swap attacks and the number of one-time passcodes that are compromised.

Many signs indicate the number of online account takeovers will increase. As a result, fraud prevention teams will be evaluating technology solutions that can help them detect account takeovers and make more accurate decisions.

Companies will also invest in solutions to help mitigate item-not-received and merchandise-not-received refund claims to combat the practice of fraudsters placing orders for the sole purpose of reporting they were never received.

We predict the demand for behavioral biometrics (BB) solutions will increase and providers will either introduce their own solution or acquire a company that offers one.

Download the eBook to learn more about each of these 2021 fraud predictions.