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E-Gift Cards and In-Store Pick Up Drive Holiday Fraud Spikes

E-commerce transaction growth outpaced growth in fraudulent transactions during the just completed holiday season, according to data from payments processor ACI Worldwide. The Naples, Fla.-based payments company analyzed hundreds of millions of transactions from the 2014 and 2015 holiday seasons and found overall online transactions grew 21 percent from last year to this year and fraud attempts grew 8 percent. Fraud attempt rates spiked most on Christmas Eve (2.4 percent), Thanksgiving (2 percent), Black Friday (1.8 percent) and holiday-shipment cutoff days (1.6 percent).

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