😱 Latam! 🌵 The region leads global e-commerce fraud

😱 Latam! 🌵 The region leads global e-commerce fraud

According to Visa’s annual report, Latin America has the highest incidence of e-commerce fraud worldwide. The survey for this year’s report was conducted between October and November 2024, gathering insights from payment and fraud prevention experts across 38 countries in North America, Latin America, Europe, and the Asia-Pacific region.

▶️ The most common fraud types in Latam include refund abuse, unauthorized account use, stolen card testing, phishing, and real-time payment fraud.

▶️ Over the past 12 months, fraudulent transactions accounted for 3.9% of all transactions in the region, surpassing the global average of 3%. By comparison, North America reported 3.4%, Europe 2.8%, and Asia-Pacific 2.5%.

▶️ 98% of businesses in Latin America have experienced at least one type of fraud in the past year.

▶️ The main issue: refund abuse.

▶️ Fraud’s impact is also evident in annual revenue losses for e-commerce businesses. Globally, these losses average 3.2% of total revenue, but in Latam, they rise to 4.1%. North America follows with 3.6%, Europe with 2.8%, and Asia-Pacific with 2.6%.

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