Beware These 3 Retail Fraud Trends in 2022, Says Chargebacks911® COO
Monica Eaton, Co-Founder and COO of Chargebacks911, recently contributed a new guest feature to Total Retail. In her post, Monica warns merchants that digital fraud is growing year-over-year. Even more worrying, it’s been evolving over time as well.
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Monica informs us that the most common types of fraud are still card-not-present fraud and chargeback fraud. However, there are always new forms of fraud emerging, particularly during economic downturns. Three of the most alarming types of fraud to watch out for in 2022 are bandwagon fraud, wardrobing, and empathy fraud.
“The solution to the above trends and any others that might emerge is always going to be more information,” Monica says in the piece.
She also drives home that the ability to analyze fraud trends will be essential. As she explains, this will allow merchants to “make informed decisions on what to do regarding anything from a single chargeback or return claim to the grand anti-fraud strategy in your company.”