On behalf of Sift, Researchscape International polled 1,231 adults (aged 18+) across the United States via online survey in October and November 2021. The results of the study were released in the Q4 2021 Digital Trust & Safety Index report. The report found that 17% of consumers submitted fraudulent fraud claims to get their money back on a transaction. This is in contrast to the amount of respondents who filed disputes against genuine fraud cases, a total of 42%. As stated by Sift’s Trust and Safety Architect, Brittany Allen “For merchants, rising disputes mean losses across the product or service itself, labor and shipping, not to mention mounting operational costs, excessive fees from payment networks, and potential revocation of payment options altogether. With a Digital Trust & Safety approach, merchants can scale fraud prevention strategies at every touchpoint to reduce all abuse, including disputes, streamline chargeback management, and maximize growth”.
Read the full article on ForeignAffairs, GlobalNewswire, Merchant Risk Council, The Paypers, Crain’s Detroit Business, or Benzinga.