Austin, TX – November 17, 2022 — Leveraging knowledge from its personal platform, SEON is portray a frightening, however nuanced image of on-line fraud within the run as much as Black Friday and Cyber Monday. This yr, SEON predicts that fraud makes an attempt will enhance by greater than 100% on Cyber Monday when in comparison with a typical Monday. As well as, the corporate foresees bot packages and faux profiles as being the weapons of alternative for fraudsters in 2022.
SEON’s inside knowledge paints an attention-grabbing image for on-line companies like eCommerce retailers, on-line mortgage suppliers and iGaming firms. Whereas the corporate processed 26% extra transactions on Black Friday in comparison with a traditional Friday, it noticed a 57% enhance in declined transaction charges. Extra surprisingly, the corporate’s system processed round 19.5% extra transactions on Cyber Monday than on a typical Monday however skilled an 100.3% enhance in declined transaction charges.
Final yr, SEON reviewed greater than $300 billion of transactions throughout Black Friday and Cyber Monday. Throughout this era, the corporate was capable of cease greater than $6 billion in tried fraud on behalf of its shoppers. Now, the corporate is predicting comparable figures for this yr’s procuring bonanza. In reality, SEON believes extra folks might now flip to on-line fraud in response to rising financial pressures.
SEON, which has simply been named because the ‘Hottest Cybersecurity Startup’ at The Europas Awards 2022, predicted a 150% enhance in tried mortgage fraud throughout final yr’s Black Friday. The corporate’s personal analysis now exhibits this prediction to be considerably conservative. The sector noticed the largest enhance in tried fraud in keeping with SEON’s knowledge final yr and should now brace for the same interval in 2022.
For extra details about SEON, please go to: https://seon.io/
