Card fraud costs U.S. retailers around $12.25 billion in revenue in 2020 alone. Historically, the majority of fraud has taken place online, and the COVID-19 pandemic led to a huge spike in fraud as a result of the shift to online transactions. As false declines also reach a high point under COVID, it’s never been more important for merchants to understand their fraud profile, employ the right tools to combat fraud, and coordinate effectively with their fraud prevention supply chain.
During the pandemic, the MAG, in coordination with CMSPI, released a survey to U.S. merchants to collect data on fraud trends, fraud tools and their overall effectiveness. In this webinar, CMSPI’s eCommerce and Insights teams will come together to review the survey results, highlight key trends in fraud, and offer unique insights into retail fraud trends.