Retail Fraud Increased 31% During 2016 Holiday Season
Compared to 2015, retail fraud attempts during the 2016 holiday season increased by 31 percent, while the number of overall transactions increased by 16 percent.
ACI Worldwide survey data, which was based on hundreds of millions of transactions from global merchants during the 2015 and 2016 holiday shopping season (starting on Thanksgiving and ending on December 31) highlights key shopping—and fraud activity—trends.
Survey findings include:
- From Thanksgiving to December 31, 2016 compared to the same dates in 2015, the number of eCommerce transactions grew by 16 percent, while fraud attempts grew by 31 percent.
- Fraud attempt rates were highest on Christmas Eve (1.6 percent), Shipment Cutoff Day (1.5 percent) and Shipment Cutoff—Express (1.7 percent). The trends driving these peak fraudulent days include shipment cut-off and buy online pick-up in-store.
- Average ticket price of an attempted fraud transaction decreased by 7 percent ($228 in 2016, down from $243 in 2015).
During the 2016 holiday shopping season, the number of fraud attempts based on total population increased compared to the same time in 2015:
- In 2016, 1 out of every 97 transactions was a fraudulent attempt.
- In 2015, 1 out of every 109 transactions was a fraudulent attempt.
https://www.aciworldwide.com/news-and-events/press-releases/2017/january/global-fraud-attempts-increased-by-31-during-holiday-shopping-season
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
