Juniper Research: eCommerce Losses to Online Payment Fraud to Exceed $48 Billion Globally in 2023, as Fraud Incursions Evolve

According to a recent Juniper Research analysis, the overall cost of eCommerce fraud to retailers would rise from little over $41 billion in 2022 to more than $48 billion in 2023.

The advent of alternative payment methods including digital wallets and BNPL (Buy-Now-Pay-Later), which are posing additional fraud threats, was projected to accelerate this development.

In order to better adapt to shifting market conditions, the research advised fraud prevention suppliers to concentrate on developing systems .

AI-powered risk-based scoring that may be payment method agnostic.

Losses from sales of real items, digital goods, money transfer transactions, banking, and other purchases like plane tickets are all included in online payment fraud. 

Phishing, business email hacks, and socially engineered fraud are some examples of fraudster assaults.


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