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Complete Story
03/30/2020
Social Distancing Has Caused More Online Shopping. And Fraud.
PaymentsJournal
Large swaths of the global economy have ground to a halt as governments scramble to stop the spread of COVID-19.
In the U.S. alone, nearly 100 million people (and growing) have been directed to stay at home and practice social distancing in an effort to limit the spread of the deadly virus. As a result, non-essential businesses are closing, including bars, restaurants, and some retailers.
With all these monumental disruptions to daily life, people are increasingly turning to online shopping. Accompanying this uptick in online activity is an increase in cyber fraud. To learn about the state of cyber fraud and how social distancing is impacting it, PaymentsJournal sat down with David Barnhardt, Chief Experience Officer at GIACT, and Raymond Pucci, director of Merchant Services at Mercator Advisory Group.
During the discussion, Barnhardt and Pucci explained why fraud is rising and how businesses everywhere should respond.
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