Facebook Twitter LinkedIn RSS
    Trending
    • N30 million scholarship up for grabs as InterswitchSPAK 7.0 0pens registrations for students
    • Internet boosted at University of Lagos as Bosun unveils fibre-to-hostel initiative
    • E-Governance: Anambra, Lagos, and Enugu lead Nigeria’s digital transformation
    • The Puzzle of Nigerian Corporate Prosperity in Harsh Economic Times
    • The Price of Staying Connected in Nigeria, By Don Pedro Aganbi
    • Krishnan Named among Top 50 MVP, Recognized as Digital Transformation Pioneer at 2025 ABoICT Awards
    • eBusiness Life Girls In ICT: Stakeholders call for more action on girls participation in ICT
    • Bridging the cybersecurity workforce gap: a global and African imperative, By Hamid Maher
    Facebook Twitter LinkedIn
    ITPulse.com.ngITPulse.com.ng
    • News
    • Interviews
    • Blogs
    • Analysis
    • Opinion
    • Videos
    • Press Releases
    • Pictures
    • Advertise
    ITPulse.com.ngITPulse.com.ng
    Home»News»Online scam decreases by 4%, says report
    News 2 Mins Read

    Online scam decreases by 4%, says report

    mmBy ITPulseJune 6, 2022
    Facebook Twitter WhatsApp Pinterest LinkedIn Reddit Tumblr Email
    scam alert
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Data presented by BanklessTimes has shown that the percentage of online shopping scam victims losing money is down to 74%, from 78% in 2020, even as there was a surge in client who suffered losses due to online scams at the onset of Covid-19.

    “The number of victims is reducing, and the restoration of normalcy after Covid-19 might be a factor.” He went further to hint that retailers might also be heightening their alertness, “Retailers are also cautious, thus making it difficult for fraudsters to pull off their scams,” Banklesstimes.com’s Jonathan Merry revealed in an article.

    The article noted that about three-quarters of online traders globally have reported a net increase in fraud attempts since 2019. Then (2019), the industry experienced a wave of security breaches, losing an estimated $20B to fraudulent online payments.

    Consequently, it gave rise to the market for detecting and preventing fraud in online commerce. BanklessTimes expects the market to approach $70 billion by 2025.

    Maintaining vigilance to curb fraud from far

    Due to the presence of online fraudsters, the online retailers’ urge to manage these attacks has never been higher. So far, over 90% of online entities believe that they must work on E-commerce fraud to enjoy success.

    Besides, more online firms feel that their skills against assaults on E-commerce have increased over that year. More than a third of them say they could recognize attacks sooner.

    Dealers have sought the usage of the card verification number and email verification to detect fraud. Both of these tools have proven essential in this regard.

    Scam affects the client’s experience.

    If retailers have felt the financial impact of cybercrime, then clients are not far back either. In recent years, the percentage of victims of online sales schemes who lost money has stabilized above the 70% mark.

    This scenario might harm retailers’ brands and the faith that clients have in them. In 2021, less than 40% of clients in the US, Germany, the U.K., and France expressed confidence in the capacity of traders to avoid fraud in online commerce.

     

    Online scam
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    mm
    ITPulse
    • Website
    • Facebook
    • Twitter
    • LinkedIn

    ITPulse is a wholly information technology communication (ICT) news website, with a special focus on the African continent. The website provides up-to-date biz-tech news, analysis and comprehensive and thorough insight into the continent's ICT terrain

    Related Posts

    N30 million scholarship up for grabs as InterswitchSPAK 7.0 0pens registrations for students

    May 29, 2025

    Internet boosted at University of Lagos as Bosun unveils fibre-to-hostel initiative

    May 29, 2025

    E-Governance: Anambra, Lagos, and Enugu lead Nigeria’s digital transformation

    May 29, 2025

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Latest Posts

    N30 million scholarship up for grabs as InterswitchSPAK 7.0 0pens registrations for students

    May 29, 2025

    Internet boosted at University of Lagos as Bosun unveils fibre-to-hostel initiative

    May 29, 2025

    E-Governance: Anambra, Lagos, and Enugu lead Nigeria’s digital transformation

    May 29, 2025
    About
    About

    Itpulse.com.ng is a wholly information technology communication (ICT) news website, with special focus on the African continent. The website provides up-to-date biz-tech news, analysis and a comprehensive and thorough insight info the continent's ICT terrain.

    Contact us: editorial@itpulse.com.ng

    Facebook Twitter LinkedIn RSS
    Latest Posts

    N30 million scholarship up for grabs as InterswitchSPAK 7.0 0pens registrations for students

    May 29, 2025

    Internet boosted at University of Lagos as Bosun unveils fibre-to-hostel initiative

    May 29, 2025

    E-Governance: Anambra, Lagos, and Enugu lead Nigeria’s digital transformation

    May 29, 2025
    Popular Posts

    The future of tech – how innovation is shaping business operations and strategy

    May 26, 2025

    Kenya, Nigeria and South Africa bear the brunt of web incidents in Africa

    May 26, 2025

    Ikechukwu Nnamani of Digital Realty bags two major ICT industry awards

    May 26, 2025
    © 2017 - 2025 Itpulse. Designed by Max Excellence.
    • Terms & Conditions
    • Privacy Policy
    • Advertise
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.