As digital shopping grows, e-commerce platforms face the critical challenge of securing customer data. AuthenticID’s 2024 Mid-Year Fraud Report highlights that fraudulent transactions increased more than 73 percent in the first half of 2024, while account takeover (ATO) attacks rose by an astonishing 354 percent in 2023. These trends underscore the essential need for robust…
Blair Cohen
In the retail and e-commerce landscape, the surge of synthetic shoppers poses a challenge for retailers. In fact, 50 percent of businesses have reported growth in synthetic identity fraud (SIF), according to AuthenticID’s 2024 State of Identity Fraud Report. SIF — when individuals use stolen personal information, such as Social Security numbers, to create fake…
The retail industry is impacted by fraud every day — and oftentimes every hour — as incidents continue to run rampant. Bad actors infiltrate both small and large businesses regularly, resulting in billions of dollars in losses for retailers each year. In fact, fraud cost Americans nearly $8.8 billion in 2022, with 2.4 million consumers…