El Buen Fin 2024, one of the most anticipated shopping seasons of the year in Mexico, not only brought with it an increase in sales, but also a worrying increase in fraudulent online activity.
Fraud attempts during this period grew by 47% compared to last year’s campaign, and the potential value of these attacks increased by 31%, according to data from Signifyd, a company specialized in e-commerce protection.
Fraudsters, who are increasingly fine-tuning their strategies, concentrated their efforts on premium categories such as Beauty, Home, Luxury and Fashion, where the value of the attacks showed significant increases, according to the firm.
Although the average ticket for fraud attempts fell by 11%, this did not prevent the total amount in certain categories from being higher, he added.
For example, in the Fashion sector, the value of fraudulent orders increased by 21%, while in the Luxury sector, the average attack ticket increased a notable 30%. The Supermarkets and Home Goods sector also stood out for a 129% increase in fraud attempts.
Read: Walmart de México records historic results after El Buen Fin
With 8 out of 10 Internet users planning to purchase products or services during this discount season, according to data from AMVO, businesses face the challenge of blocking fraud attempts effectively, without affecting the experience of legitimate customers. This is crucial in a period where consumers are more encouraged to buy.
The increase in fraud attempts is not a minor issue. In addition to the financial cost, these activities represent a blow to confidence in e-commerce.
In the wake of events like Buen Fin, the company said, fraudsters see an opportunity to attack high-value sectors, while businesses face pressure to balance security and customer satisfaction.
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