This week’s OSIN showcase the Global Fraud and Payments Survey 2022.
The 2022 Global Fraud and Payments Survey, conducted by Cybersource, the Merchant Risk Council (MRC), and Verif, reveals the prevailing fraud and payment practices in eCommerce. The survey included merchants from various regions and found that the most common forms of fraud faced by merchants remained consistent: phishing/pharming/whaling, card testing, identity theft, and first-party misuse. These attacks continue to impact around one-third of merchants globally. However, first-party misuse experienced a slight decline compared to the previous year. The survey also highlights a significant shift in merchant priorities towards reducing fraud and chargebacks and minimizing fraud-related operational costs, while fewer merchants focus on improving the customer experience. This change may be driven by rising costs and key performance indicators associated with eCommerce fraud or an improvement in customer experience over the past year.