US Online Fraud Attempts More Than Doubled Over Cyber 5 Days: Report

Suspected digital fraud attempts on a given day between Thanksgiving and Cyber Monday were 82% higher globally than during the rest of the year, and 127% higher in the U.S., TransUnion reported Thursday. Some 15% of all global e-commerce transactions reviewed between Thanksgiving and Monday were potentially fraudulent, 18% in the U.S. Promotion abuse and account takeover were the leading fraud attempt types, it said. Online retailers need the proper tools to detect fraud at the first warning sign “without inhibiting the consumer journey,” said Cecilia Seiden, vice president-retail business.