![]() – In fact, 2.6% of US citizens, or 6.5 million people, reported buying such products. There were 10 million registered purchases in 2017 alone. ![]() – The most popular scams in the US sold fraudulent weight-loss products. – In 2017, 40 million US citizens, or 15.9% of study respondents, confirmed they have been victims of fraud. In just 3 months – January to March 2019, there were 5,305 ecommerce fraud reports in the US. So, to rephrase that old saying – keep your debit cards close, but your credit cards – closer! 2. – It’s 81% more likely to encounter a card-not-present fraud than point-of-sale fraud. – Credit card fraud rose by 18.4% in 2018 and continues to increase. – The statistics indicate that most credit card fraud, 38.6% of reported cases, occurs in the US. – In 2018, over $24 billion were lost worldwide due to fraudulent credit card transactions. ( Sources: Digital Commerce 360, Shift Processing) The staggering 92% of fraudulent online transactions in 2017 involved a credit card. So are online shopping frauds really all that common? Let’s check out what the facts say. Now that you’re intrigued, it’s time to go further and take a look behind the scenes of digital fraud. The amount includes fees, as well as revenue and merchandise losses. Chargeback scams accounted for $6.7 billion dollars in losses in 2016.In 2018, people lost $1.4 billion to scams – an increase of 38% compared to 2017. ![]() To put that in context, this fraud alone cost 15.4 million US consumers a total of $16 billion in 2016. In 2017, 16.7 million US consumers were victims of ID theft. ![]() This lead to losses of $57.8 billion across 8 big industries. Ecommerce frauds increased by 45% in 2017.The rate of credit card chargebacks is rising with 20% each year.Online shopping frauds grew at a rate of 30% in 2017 – twice as fast as the rate of ecommerce sales.We’ll start by taking a look at the most fascinating stats out there! How bad is it? Is there a way to protect yourself? Let’s dive into the ecommerce fraud statistics to answer these questions! Fascinating Facts Scammers quickly realized the malicious potential. However, it does come with certain risks. Isn’t it cool that you can sell the ugly Christmas sweaters your aunt knits and earn a living without even leaving your bed? Online retail has made our lives so much easier. ![]()
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