☠️ Chargeback schemes: Sift 🇺🇸 warns of an alarming increase

☠️ Chargeback schemes: Sift 🇺🇸 warns of an alarming increase

A new report highlights a worrying 78% increase in chargeback fraud compared to last year, based on Sift’s Q4 2024 Digital Trust Index.

➡️ 27% of consumers have come across online content promoting "refund hacks", even in cases where they were satisfied with their purchase.

➡️ Most affected sectors:

🔵Travel: chargebacks in this industry surged by an astounding 816%.
🔵E-commerce: saw an increase of 222%.
🔵Digital goods and services: reported a 59% rise.

➡️ Consumer Behavior and Generational Trends

Chargeback fraud demonstrates significant generational disparities:

🔵42% of Gen Z admit to engaging in it.
🔵33% of Millennials.
🔵21% of Gen X.
🔵Just 6% of Baby Boomers.

➡️ Anti-fraud technology: Sift leverages AI-driven systems to compile its index and enhance its anti-fraud solutions.
You can access the full report here.

#news #fraud #consumers

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