Over the past few months we’ve seen traditional retail decline due to the COVID-19 pandemic, but its impact on eCommerce has seen varying results, with some markets even seeing a substantial growth.
Unfortunately, one constant that we are seeing is a rise in online fraud, with our most recent numbers showing a significant uplift in fraudulent orders.
Online fraud continues to plague eCommerce shops worldwide, and even with the advancement of AI there are still many high-risk orders left to be dealt with in-house.
We started a discussion with Ralf Hornberger, Global Strategic Partnerships with Arvato, and Dr. Valentine Burg, Engineering Manager Credit Risk & Forecasting with Home24, to discuss the impact that COVID-19 is having on eCommerce fraud, how companies are handling it, and potential next steps as social bans begin to loosen.
Check out the video below and see where your eCommerce shop stacks up with our findings!