Black Friday to Cyber Monday: Mobile commerce up, fraud (mostly) down

Credit card fraud, identity theft and friendly chargebacks were the top types of online fraud during the 4-day online shopping bonanza, according a report by device intelligence and fraud prevention company iovation. (Infographic included.)

Black Friday ecommerce fraud
CSO Online

If you indulged in online shopping over the Thanksgiving weekend this year, you were far from alone. "Thanksgiving Day through Cyber Monday [drove] a total of $11 billion in online sales, a 15 percent increase year-over-year (YoY) and 30 percent of all online sales in November ($39.5 billion)," according to Adobe's Digital Index, which analyzed aggregated and anonymous data of more than 125 million visits to 4,500 retail websites to feed its predictive model.

And, according to device intelligence and fraud prevention company iovation, online retail transactions made from Black Friday through Cyber Monday 2015 were up 43 percent over 2014 and a whopping 143 percent over 2013. In addition, iovation’s data showed that on Cyber Monday 2015 there were approximately 50 percent more online retail transactions than a typical recent Monday.

Black Friday ecommerce fraud CSO Online

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The devices those purchases were made on has also changed. iovation's data shows that retail transactions from mobile devices peaked on Saturday at 48 percent of all online transactions, marking a 17 percent increase over the rest of the year, when mobile typically accounts for 41 percent of all online retail transactions.

Now about the fraud…

Iovation found that 1.06 percent of all retail online transactions from Black Friday to Cyber Monday were fraudulent, compared to 1.25 percent during the rest of 2015. And .62 percent of mobile retail transactions over the 4-day holiday weekend were fraudulent, compared to .73 percent during the rest of 2015.

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