Fraud attempts will rise during the holiday shopping season with Click and Collect fraud the fastest growing fraud trend globally.
Click and Collect fraud attempts rose by 13% in 2018. In comparison, for all channels the volume of fraud attempts increased by just 1%.
The figures are flagged up by real-time electronic payment and banking solutions provider ACI Worldwide.
Furthermore, ACI Worldwide warns that fraud attempts are likely to peak on Black Friday and Cyber Monday.
“Click and Collect is becoming more and more popular among UK consumers. But fraudsters are increasingly exploiting the loopholes of this popular shopping method,” says Jackie Barwell, director, fraud product management, ACI.
“Retailers must practice more stringent security processes around all aspects of Click and Collect, especially during the holiday season. We recommend retailers ask all customers to produce sufficient identification. Examples include the card that was used for payment – at the pick-up point.”
Avoiding Click and Collect Fraud
ACI’s 2019 Holiday Season Preparedness Guide provides consumers with nine tips:
Shop at reputable websites.
Check the bottom right hand corner of a website during the check-out process and look for a security icon that ensures it’s a safe transaction.
Don’t use public Wi-Fi when shopping.
Personal and financial information are vulnerable on public Wi-Fi networks, so it’s safest to shop through a private and secure Wi-Fi network.
Be wary of public charging stations.
As consumers travel during the holiday season, “juice jacking,” where fake kiosks are rigged to steal personal data from devices, is common.
Use biometric authentication.
Take advantage of thumb print or facial recognition features on mobile devices when possible;
Avoid using the same e-mail and password combination with multiple merchants.
Fraudsters can use these credentials for future account takeovers;
Set up PINs for online accounts to avoid “friendly fraud” and subsequent chargebacks.
Do not leave boxes on front porches.
Track and monitor credit and debit card spending.
Automated alerts for online transactions can let consumers know exactly when they—or someone else—attempts to use a card.
Check credit reports.
Various websites offer free credit scores, reports and insights that allow consumers to keep tabs on activity that impacts their score and ensure that it’s accurate