Retail Fraud Up by 1/3 During 2016 Holidays Posted by Association of Vermont Credit Unions on 12:30 PM

As reported by CU Times, the growth of retail fraud surpassed the growth of e-commerce transactions over the 2016 holiday season, according to a new survey by ACI Worldwide.  The data, based on hundreds of millions of transactions from global merchants, revealed that fraud attempts grew by 31% in the period between Thanksgiving and 12/31 for the 2016 holiday shopping season versus the same period in 2015. The number of e-commerce transactions grew by 16% during that time.

Attempted fraudulent transactions are those in which merchant verification confirms the transaction is fraudulent, the transaction data matched information being sold online or reported as fraudulent by an issuer, or are transactions that match a pattern of confirmed fraudulent behavior.

Read the full story with more details online.