New Visa Report Tells Consumers to Stay Alert this Holiday Shopping Season
Today, Visa Inc., a world leader in digital payments, revealed its Holiday Edition Threats Report, which anticipates heightened scam activity during the holiday season across both card-present (CP) and card-not-present (CNP) transactions. The new report identifies popular fraud tactics expected between November 2023 and January 2024 due to the rapid increase in eCommerce activities and in-person spending across retail and hospitality. Visa, today, also unveiled its list of top 10 habits consumers can follow to practice safe and secure shopping.
Historical data and transactions show that threat actors prey on consumers during the holiday season. In fact, Visa's data shows that for the top merchant categories targeted by fraudsters, 2022 holiday fraud rates increased 11% over their non-holiday fraud rate and saw an increase of 8% over the previous year during this time1. The Holiday Edition Threats Report warns that threat actors will seek to exploit consumers' increased interest and urgency in finding deals and one-of-a-kind gifts. Highlights of the report's findings include:
10 Habits to Help Consumers Shop Securely
Visa's 10 Habits for Good Security Hygiene can guide consumers who are planning to shop this holiday season on best practices to stay safe. Highlights from Visa's tips include:
At Visa, security and reliability is a top priority year-round. Over the past five years, the company has invested more than $10 billion in technology, including to reduce fraud and increase network security. More than a thousand dedicated specialists protect Visa's network from malware, zero-day attacks and insider threats 24x7x365. In fact, in the first six months of 2023, Visa helped to proactively block $30 billion in fraud, preventing many from ever knowing they were at risk of a potential fraudulent transaction. We encourage consumers to stay alert during this season and think about where they are shopping and who they are sharing their information with to keep it safe.
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
1 Top merchant categories include home improvement and supply, telecommunications, business to business, healthcare, automotive, entertainment, education and government, lodging, insurance, airlines, and drug store and pharmacies.
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