Retailers enter the digital landscape armed with everything from simple, modest websites to fully-integrated, hybrid customer experiences. But regardless of where your business sits on the spectrum, the Fraud Economy is already there, full of sophisticated, organized cybercriminals ready to take advantage of every move you make to stay secure.
Moves like adding friction to the user journey—a common strategy that might stop some fraud, but that knocks out legitimate customers, too, upping false positives and losing revenue. Retailers also often rely on manual review and verification; both are highly accurate, but too time consuming for businesses with a global, online audience.
As automation continues to enable faster, larger-scale, and more profitable attacks, retailers need a better understanding of what they’re dealing with: accelerated risk that’s constantly growing more sophisticated, and brick-and-mortar loss prevention tactics that can’t scale with the problem, even when they’ve been adapted for digital fraud.
This infographic details what you need to know about the mechanics of online retail fraud, how it’s changing shape with the rise of automation, and why omnichannel retailers are turning to real-time machine learning to protect people and profits without slowing down.