E-Commerce Today - Tackling Rising Fraud With Advanced Security Measures

Simply Wall St

E-commerce and online marketplaces are facing soaring rates of fraud, significantly impacting revenues and customer trust. According to Veriff's recent "The Future of E-commerce" report, e-commerce is experiencing the highest level of authorized fraud scams across all industries, with incidents spiking during peak shopping periods like Black Friday and Cyber Monday. The report emphasizes the necessity of robust identity verification, highlighting that 75% of consumers consider this a crucial factor when engaging with online marketplaces. To counteract the growing sophistication of fraud, the report suggests the adoption of advanced security measures, such as biometric identification, to maintain trust and ensure transactional security.

In other trading, DCI Indonesia (IDX:DCII) was a standout up 20% and ending the day at IDR346,725.00, hitting its 52-week high. At the same time, Newegg Commerce (NasdaqCM:NEGG) lagged, down 20% to end trading at $44.97.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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