Fraud Intelligence Center

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Industries with the Highest Increases in Payment Fraud

Attempted payment fraud across the Sift network in 2023 vs. 2022

Entire Sift Network

0%

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iGaming

0%

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Ticketing

0%

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Food Ordering & Delivery

0%

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Retail

0%

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Online Travel & Lodging

0%

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Payment Fraud Consumer Insights

Consumers who experienced payment fraud at least once in past 18 months

43%

Victims said the fraud occurred on online shopping sites

46%

*On behalf of Sift, Researchscape International polled 1,052 adults (aged 18+) across the United States via online survey in February 2024.

Top Fraud Attack Rate by Payment Method

Handing a giftcard to someone

Gift Card

14%

Several prepaid debit cards

Prepaid Card

5%

Portable card scanner

Debit Card

3%

Digital wallet on phone

Digital Wallet

2.6%

Phone making a purchase

Electronic Fund Transfer

2%

Woman making a purchase on a computer

Credit Card

1.9%

Consumers See Offers to Participate in Fraud

18% of all surveyed consumers have seen offers to participate in online fraud


Gen Z

34%

Millennials

20%

Generation X

11%

Baby Boomers

9%

Rebecca Alter, Trust and Safety Architect at Sift

"We’ve found that younger generations, particularly Gen Z, are not only more susceptible to fraud, but are also participating in fraudulent activities at a higher rate. Gen Z’s unique consumer behavior, driven by a preference for experiences over physical goods, along with increasing fraud, creates a complex environment for businesses to navigate."

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Fraud’s impact on customer loyalty

Percent of consumers who would abandon a brand due to fraud

76% would stop using or shipping on a site whether they have been a victim of payment fraud

Data represents responses to multiple surveys of U.S. adults conducted by Sift between 2020–2024.

76% would stop using or shipping on a site whether they have been a victim of payment fraud

due to account takeover

84% due to fake or misleading content

41% due to Link dispute from an unauthorized purchase made with their payment information