Median monetary loss per online purchase scam worldwide 2015-2022

Fraudulent transactions to online shopping scammers are on the rise worldwide. In 2021, the median monetary loss per online purchase scam reached 101 U.S. dollars, up from 96 dollars the previous year. According to a worldwide study, victims of online shopping scams lost money more easily than in the past. Indeed, the percentage of consumers who lost money after being targeted by online purchase scams went from 71 percent in 2015 to almost 75 percent in 2021.

Protect shoppers at all costs

The bigger is the threat, the bigger is the required defense. In 2020, the size of the e-commerce fraud detection and prevention market was over 28 billion U.S. dollars, while it is expected to grow to over 69 billion U.S. dollars by 2025. If the size of such prevention measures might appear excessive, think again. In 2021, e-commerce losses to online payment fraud were expected to reach 20 billion U.S. dollars globally, marking a 14 percent increase from the previous year.

The importance of safe purchases

Ensuring safe purchases to online consumers is an essential aspect of the shopping experience. According to a survey, more than eight in ten consumers in Mexico and the United States would opt for online shopping more often if vendors guaranteed safe transactions. A slightly lower percentage of Canadian and Australian consumers valued cybersecurity in online shopping, too.