E-Commerce Fraud: All You Need to Know

Whether it’s a new sofa for your living room or a life-sized cardboard cutout of David Hasselhoff, you can now purchase almost anything online. In fact, online shopping has become so widespread and so popular that retail e-commerce sales alone are projected to reach almost $5 trillion by the end of 2021

The COVID-19 pandemic is in part responsible for this. People switched to shopping online as worldwide lockdowns loomed, and as online shopping became more popular, the opportunities for fraudsters grew. Seeing that merchants are hit by over 200,000 web attacks a month, it’s no wonder that e-commerce fraud is becoming a huge concern for online businesses.