New data from Jumio revealed that online fraud, which had been steadily increasing globally between 2014 and 2016, dropped 17 percent in 2017. During the holiday shopping period of Black Friday through Cyber Monday, fraud dropped 33 percent.
But, said Jumio, the overall declines in online fraud should not suggest that all industries are improving to the same degree. Some sectors, such as financial services, are still experiencing higher-than-average fraud levels. In 2016, the financial services sector experienced a 57.4 percent spike in fraud during the Black Friday to Cyber Monday period (compared to the daily average). In 2017, fraud during this period was still higher than the average, but only by 18.4 percent.
Read more about the Jumio findings on Security Magazine.