GITNUX MARKETDATA REPORT 2024

Must-Know Ecommerce Fraud Statistics [Latest Report]

With sources from: fraud.org, juniperresearch.com, chargebacks911.com, chargebackgurus.com and many more

In this post, we will explore the alarming rise of eCommerce fraud and its profound impact on businesses worldwide. From the surge in attempted fraud during the COVID-19 pandemic to the staggering financial losses incurred, the statistics paint a bleak picture of the challenges faced by online merchants in combating fraudulent activities. Join us as we delve into the key data points shedding light on the evolving landscape of eCommerce fraud and the strategies adopted to safeguard against this pervasive threat.

Statistic 1

"A survey found that 57% of businesses had experienced an increase in attempted fraud since the COVID-19 pandemic began."

Sources Icon

Statistic 2

"Online shopping fraud represented 46% of all reported fraud in 2020."

Sources Icon

Statistic 3

"Theft of personal data is involved in 61% of all eCommerce-related crime."

Sources Icon

Statistic 4

"67% of eCommerce merchants cite that they have already experienced bots used to perpetrate eCommerce fraud."

Sources Icon

Statistic 5

"72% of merchants globally rank preventing fraud and chargebacks as a top priority."

Sources Icon

Statistic 6

"Ecommerce fraud saw a 30% increase between 2017 and 2018."

Sources Icon

Statistic 7

"eCommerce fraud targeting mobile transactions saw a 68% year-over-year increase in 2019."

Sources Icon

Statistic 8

"The average cost per fraudulent transaction is estimated at $3.36."

Sources Icon

Statistic 9

"Synthetic identity fraud losses in eCommerce amounted to $10 billion in 2020."

Sources Icon

Statistic 10

"Telecommunication eCommerce and online gaming sectors are currently the most affected by fraud attacks."

Sources Icon

Statistic 11

"EMV chip card implementation reduced card-present fraud by 80%, pushing more fraud online."

Sources Icon

Statistic 12

"Chargeback fraud costs merchants more than $25 billion a year."

Sources Icon

Statistic 13

"Retail spending lost to online fraud is estimated to be $130 billion over five years from 2018 to 2023."

Sources Icon

Statistic 14

"Fraud attempts increased by 47% during the 2020 holiday season compared to the 2019 holiday season."

Sources Icon

Statistic 15

"40% of eCommerce merchants expect fraud to increase in the future."

Sources Icon

Statistic 16

"Around 83% of them have fallen prey to fraud using synthetic identities."

Sources Icon

Statistic 17

"In the US alone, manual review of fraud transactions increases operational costs to retailers, consuming 25% of their fraud management budgets."

Sources Icon

Statistic 18

"In 2020, global eCommerce fraud losses amounted to $17.5 billion."

Sources Icon

Statistic 19

"Account takeover fraud impacted nearly 34% of online businesses in 2019."

Sources Icon

Statistic 20

"Friendly fraud accounts for around 28% of all fraud losses for eCommerce."

Sources Icon

Interpretation

The statistics outlined present a stark reality of the pervasive threat of eCommerce fraud, exacerbated by the COVID-19 pandemic and the increasing sophistication of fraudulent activities. With businesses experiencing significant financial losses and operational challenges due to fraud, it is clear that merchants must prioritize fraud prevention strategies. The data highlights the urgent need for robust fraud detection measures, particularly in sectors like telecommunication eCommerce and online gaming that are most targeted by fraud attacks. As fraud continues to evolve and proliferate, merchants must remain vigilant and proactive in safeguarding their eCommerce operations to mitigate the substantial financial and reputational risks associated with fraudulent activities.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.

Submit Your Own Statistic Data

Would you like to submit your own researched statistics on this topic? You are welcome to use the form below and submit your suggestion to us. We will check the source and approve it if necessary.

Explore More Market Data Reports

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!