With the holiday season comes an increase in ecommerce sales. But with an increase in sales comes an increase in ecommerce fraud and cybercrime – especially now that EMV credit card security has been standardized in the U.S. Security and fraud are in a constant arms race, so stay up-to-date on the latest trends in fraud to make sure your security efforts are effective. Identifying trends enables retailers to take preventative action if necessary during the holiday season, without wasting time or resources via manual reviews. Here are some areas you should consider:
Mobile transactions have been on the rise, but ecommerce business have been somewhat slow to adopt tech and marketing strategies for mobile. If this applies to your site, make sure you're equipped to verify and accept secure mobile payments. As consumers become more comfortable shopping on mobile devices they will start to overlook security risks associated with mobile payments - so ecommerce security in this area will continue to grow in importance.
Other Shopping Holidays
In 2015, there are plenty of high-volume shopping days in advance of Black Friday, Cyber Monday, and the later holiday season. With these new shopping opportunities, cybercriminals are well-prepared for the even bigger shopping days during the "official" holiday season. For best results, try to have your fraud prevention systems updated and running as early as possible.
What Happened in 2014?
Initial reviews and recommended security strategies from the previous year don’t typically get evaluated and implemented right away. Take a look at last year’s cybersecurity trends and use those practices to prepare for this upcoming holiday season before the shopping rush starts.