As holiday shoppers prepare for the big day, UK consumers should be aware that it’s not all mistletoe and lights, as it is expected fraud attempts will rise during the 2019 holiday shopping season.
Data from a leading global provider of real-time electronic payment and banking solutions, ACI Worldwide, reveals that Click and Collect fraud is currently the fastest growing fraud trend globally, with Click and Collect fraud attempts rising 13 percent in 2018. In comparison, for all channels the volume of fraud attempts increased by one percent.
The data also reveals that retailers and consumers should be vigilant as fraud attempts are likely to peak on Black Friday and Cyber Monday, as transaction volumes rise and shoppers rush to get the best deals.
“Click and Collect is becoming more and more popular among UK consumers, but fraudsters are increasingly exploiting the loopholes of this popular shopping method,” said Jackie Barwell, director, fraud product management, ACI Worldwide. “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 – for example, the card that was used for payment – at the pick-up point.”
As the holiday shopping season approaches, ACI Worldwide 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 – especially for families with young children
- Do not leave boxes on front porches: During the busy holiday shopping season, fraudsters are looking to pounce as consumers are distracted
- 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