Why Fraud is a Big Problem for eCommerce
Think about how much we shop online in eCommerce. It’s become a big part of our lives, especially in the last few years. But with this growth comes a problem – fraud. A recent study by PYMNTS Intelligence found that over 80% of online stores faced real fraud in the past year. Real fraud means they confirmed that someone was trying to trick them, not just guessing or being extra cautious.
The Different Types of Fraud
The study looked into how businesses, include eCommerce, are dealing with fraud. It found that 21% of fraud cases were because of people doing tricky things. But what’s even scarier is that 61% of the fraud came from technology tricks. This includes things like fake emails, cyberattacks using robots, and even using computer smarts to cheat.
A Real Example: The Cyberattack in December
To understand this better, let’s look at a real event that happened with eCommerce fraud in December. VF Corporation, the company that owns brands like Vans and The North Face, got hit by a cyberattack. This didn’t just mess up their work; it made it really hard for them to send things to customers. Sadly, this isn’t a one-time thing. It shows how serious and real tech tricks are for online stores.
How eCommerce Businesses Fight Back with Smart Tools
Big Online Stores Take Action
But online stores and eCommerce aren’t just sitting around. They are fighting back against these tricky tech schemes. They are using smart tools to stay ahead and keep our online shopping safe.
How the Tools Work
- Finding Tricks:
- These tools look at lots of data in real-time. They find patterns and things that look weird. If something seems off, they can alert the store to check it out.
- Computer Smarts:
- The tools use computer smarts to learn new things. This helps them get better at spotting tricky things over time. They use this learning to look at buying patterns and quickly stop anything that looks like fraud.
- Extra Safety Checks:
- Sometimes, these tools ask for extra safety checks. This can include using your fingerprint or checking how you behave online. It makes sure the person buying is really who they say they are.
- Quick Checks and Warnings:
- Speed is super important. These tools quickly check for anything tricky. If they find something, they send a warning so the online store can stop it fast.
Making Online Shopping Safer for Us
As online shopping and eCommerce keeps growing, we need to be extra careful. Big online stores are using these smart tools to protect themselves and us from tricky tech fraud. They’re making sure our online shopping is safe and easy.
What’s Next: Making Online Shopping and eCommerce Even Safer
This fight against eCommerce fraud will keep going. As we use more technology, businesses will keep finding new ways to protect us. They’ll keep making sure our online shopping stays secure and that we can enjoy it without worries. So, the next time you buy something online, know that smart tools are working behind the scenes to keep you safe.