by Keith Briscoe
as seen on CNP.com for Friendly Fraud month
Friendly fraud — when cardholders dispute card purchases they or someone else in their household actually made — has become a significant cost burden to merchants and issuers. But while it’s increasing across industries, certain ones have been hit particularly hard.
The Home Improvement Industry is battling against fraud like never before. Why? Home goods, improvements and hardware are some of the fastest growing categories in ecommerce - and for good reason.
Consumer electronics are a popular target for fraudsters. Handheld gadgets such as tablets, smartphones, toys and cameras are high in value and in high demand. Despite investing heavily in sophisticated defences to catch fraud and stop bad orders before they’re shipped, many consumer electronics merchants continue to suffer serious losses and rack up unacceptable costs.