E-Commerce Fraud Trends 2014: Securing the Online Shopping Cart

The U.S payment card industry is undergoing a transformation. With the looming upgrade to the EMV standard, it is expected that the U.S. will experience a significant increase in card-not-present (CNP) fraud as have most other countries that have embraced it. According to leading research firm Aite Group, CNP fraud will account for about $2.9 billion in fraud losses to U.S. issuers this year. However, by 2018 when about 98% of payment cards in the U.S. will be enabled with the EMV capability, that number is expected to more than double to $6.4 billion in losses. That’s in the future. But what are we seeing today? RSA has gathered insight from the billions of e-commerce transactions we secure each year, and here are some of the trends we are seeing in 2014