Digital holiday shopping fraud in Kenya down

Digital holiday shopping fraud in Kenya decreased by 16.5 per cent according to a report released by TransUnion, a global information and insights company. Per cent of Kenyan transactions between November 25th to 29th were potentially fraudulent.

The percentage of suspected digital fraud attempts coming from mobile phones or tablets globally during the start of the holiday shopping season, decreased to 45.62 per cent this year compared to 52.45 per cent last year.

TransUnion released fraud analysis for Kenya regarding the percentage of suspected fraudulent e-commerce transactions during the start of the holiday shopping season and entire year from 2019 to 2021.

The analysis shows that 17.5 per cent of all global e-commerce transactions and 3.6 per cent of Kenyan transactions between November 25th to 29th were potentially fraudulent.

“Online shopping is the new norm for most consumers and the trend has been further accelerated due to the pandemic,” – said Head of product TransUnion rest of Africa regions, Samuel Tayengwa.

He said consumers want to shop with online retailers who not only provide a seamless user experience but also take consumer security and privacy seriously.

Tayengwa said it is imperative that such businesses equip themselves with the proper tools to detect fraud at the first warning sign without slowing down shoppers. The percentage of suspected digital fraud attempts coming from mobile phones or tablets globally during the start of the holiday shopping season, decreased to 45.62 per cent this year compared to 52.45 per cent last year.

The two top potentially drivers of fraudulent e-commerce transactions globally include the number of accounts per device and evidence of previous fraud on the account or device. TransUnion monitors digital fraud attempts reported by businesses in varied industries such as gambling, gaming, financial services, healthcare, insurance, retail and travel and leisure.

Source: the-star.co.ke

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