What are some real-life examples of e-commerce fraud?

What are some real-life examples of e-commerce fraud?

E-commerce fraud can take many forms. One notable case is the 2019 data breach at a major online retailer, where hackers accessed customer payment information.

How did that breach affect the customers?

Customers faced unauthorized charges on their accounts, and many had to deal with identity theft issues. The retailer also offered credit monitoring services as a response.

Are there any preventive measures that e-commerce businesses can take?

Yes, businesses can implement multi-factor authentication, regular security audits, and employee training to recognize phishing attempts.

What are some other types of e-commerce fraud?

Other types include chargeback fraud, account takeover, and fake returns, each posing unique challenges for businesses.

Can you provide statistics on e-commerce fraud?

Certainly! According to recent studies, e-commerce fraud losses are expected to exceed $20 billion by 2024, highlighting the growing threat.