2013 and 2014 were a devastating years for retailers hit by data breaches.
Given the size of the retailers targeted and the ease with which hackers were able to steal valuable data, it’s no surprise that consumers are skittish about returning to retailers that were breached. According to The Fraud Practice, 45 percent of cardholders said they would definitely not or probably not shop with those retailers during the 2014 holidays.
With the digital convergence, fraud against merchants could occur at the POS, on the mobile platform, or online. Even with increasing fraud prevention information sharing between banks and merchants, merchants need to remain vigilant in order to keep their reputations intact, especially during peak shopping times.
If you are evaluating holiday fraud prevention strategies, here three resources you may find useful: