E-Commerce Fraud Increased 33% in 2016
Switching to smart-chipped credit cards has made Americans less susceptible to point of sale identity theft. But fraudsters have moved away from physical credit card skimming to stealing your data online. According to a new study from Experian, e-commerce fraud rates increased 33% in 2016.
Experian analyzed “attempted fraudulent e-commerce transactions” in relation to the total number of online orders placed in each state. They created two interactive maps that highlight their findings: one based on the online orders’ shipping addresses and one based on their billing addresses. For ease of interpretation, billing states were associated with suspected fraud victims (the address of the purchaser) and shipping states are associated with suspected fraudsters (the address where the purchased goods were sent).
Oregon and Delaware experienced a 200% increase in e-commerce billing fraud year-over-year, far more than any other states. Attacks in Florida, California and New York represented 70% of the top 100 riskiest billing zip codes. In fact, Miami accounted for five of the six highest risk spots (each zip code was assessed individually).