Ecommerce Fraud Detection during the Pandemic - Kount

As published on Practical ECommerce, April 13, 2020

“Ecommerce is changing rapidly during this global pandemic, with some industries experiencing large shifts in transaction volumes or more requests for faster shipping,” said Rich Stuppy, chief customer experience officer at Kount, a fraud prevention firm.

“Especially in these circumstances, fraud prevention isn’t just about stopping chargebacks, but it also plays a role in approving and expediting orders as well as stopping policy abuse that leads to reselling and retail arbitrage issues. It will be critical to monitor fraud trends in the coming weeks, as chargebacks begin to roll in from this period.”

Stuppy’s comments are consistent with recent data from TransUnion, a consumer credit bureau. Some 22 percent of the 1,068 American adults TransUnion surveyed claimed they had “been targeted by digital fraud related to Covid-19.”

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