Online Transaction Fraud to Double by 2020

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Source: Online Transaction Fraud to Double by 2020

According to Juniper Research, eRetail, banking and airline ticketing are the three hottest areas for online fraud.

A study from the United Kingdom-based Juniper Research found fraudulent online transactions will reach $25.6 billion by 2020, up from $10.7 billion last year. That means for every $1,000 spent, $4 will be fraudulent.

The study, “Online Payment Fraud: Key Vertical Strategies & Management 2016-2020,” identified three hot areas for online fraud: eRetail (65% of fraudulent transactions, or $16.6 billion), banking (27%, $6.9 billion) and airline ticketing (6%, $1.5 billion)…

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