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Published on 2022-12-12
E-commerce set revenue records in Spain during 2021, growing more than 10% and surpassing 57.7 billion euros, according to data from the CNMC. This growth has been linked to the rise in frauds being carried out through online commerce.
The number of fraudulent websites detected worldwide increased by nearly 3% in the last quarter of 2021. Sites posing as e-commerce platforms accounted for 9.4% of that total, according to data provided by ESET. Moreover, according to a study by TransUnion, attempts at online fraud originating in Spain grew by 11.3% over the past year.
The increase in electronic payments, which are set to nearly triple by 2030, reaching 3 trillion transactions worldwide, fosters the rise in cyberattacks. In 2021, these increased by 50% compared to the previous year. Additionally, identity fraud affected 42 million people in 2021, resulting in losses of $52 billion.
The most frequent frauds in e-commerce
Online scams can be facilitated by various methods and channels. Online impersonation, bots, identity theft, or cybercriminals themselves are the most used tactics today.
Phishing and Pharming: are the two most common methods of identity impersonation. Phishing involves a cybercriminal deceiving the user via an email (spam) enticing them to make a bank transaction on a fraudulent page. Whereas, in Pharming, no transaction is necessary, just accessing through their browser a supposed original page.
Botnets: are computer robots installed on computers (via spam or malware) to purchase through the user's IP. This type of fraud often originates in countries accustomed to committing online purchase crimes and, to carry them out, use an IP from another location to appear as if the purchase was made from another country. This crime is more common in e-commerce ticketing.
Affiliation fraud: a campaign reaches the user with various discounted products. The website and discounts seem real, but it is a fake landing page.
Re-shipping: in this type of scam, two people are involved. One of them makes the online purchase with a stolen card, while the other receives the goods (to prevent the former from being discovered). Once received, it is sent to the buyer.
Account takeover: the fraudster obtains a customer's data and takes control of their account to modify some of it and make the online purchase. They can change the shipping address, phone number, email...
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