Fraud Season: The Black Friday & Cyber Monday Survival Guide for E-commerce Businesses

There’s no doubt that Black Friday and Cyber Monday are the most anticipated online shopping events of the year. Retailers ramp up product launches and promotions to boost sales as much as possible during this shopping season. In 2020, US retailers raked in $10.8 billion on Cyber Monday alone, breaking e-commerce sales records. 

But online retailers aren’t the only ones gearing up for this year’s shopping spectacle, fraudsters are too. The busy shopping season is the perfect opportunity for fraudsters to hide amongst the crowd and defraud e-commerce businesses. In fact, a staggering 385% increase in payment fraud marked last year’s festivities. 

Unfortunately, analysts expect e-commerce fraud attacks to be even more relentless this year. With the pandemic forcing shoppers to stay home, retailers are shifting sales online and scrambling to get ready for the flood of digital traffic. In short, this cyber weekend will be big business for both online retailers and fraudsters.