£11bn fraud hit to retail sector

Published date08 April 2024
Publication titleHuddersfield Daily Examiner
More than a third of UK businesses (35%) fell victim to fraudulent activity, cyber attacks or data leaks over the last 12 months, up 37% on 2022, according to the report for financial technology platform Adyen by the Centre for Economic Business and

Research (Cebr).

Many retailers have opted for more lenient online returns policies but many now battle high rates of chargeback fraud. If a retailer receives a fraud-related chargeback for a transaction, it means the cardholder claims they did not authorise or participate in the...

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