The many ways fraudsters abuse online retail platforms

Article summary

The Covid-19 pandemic has changed how most people go about their daily routines and how businesses approach their day-to-day operations. Ecommerce and online retail, in particular, have been significantly affected by current conditions and the need to digitally transform to meet this new era of remote shopping. […] Fraud can result in losses that add up to billions of dollars and a lot of potential problems with retailers’ payment processing partners. […] This results in good customers being falsely declined and greater exposure to instances of fraud. […] Retailers don’t need to reinvent the wheel for every new kind of fraud that comes up,” Reitblat says.

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