Hong Kong has the third-highest rate of risky e-commerce transactions in the world so far this holiday season, research by TransUnion found. The research showed the rate of suspected online retail fraud in Hong Kong during the start of the 2020 holiday shopping season was 28 percent, representing a 41 percent increase from a year ago. The recent survey showed 8 percent of the respondents acted on a digital Covid-19 fraud scheme and are now victims of it. That is the same percentage as the April 13 survey, TransUnion said. "With the Covid-19 pandemic accelerating the move from offline to online transactions, detecting digital fraud attempts have become paramount for e-commerce providers," said Jerry Ying, Asia Pacific vice president of innovative solutions group, TransUnion.

Source: The Standard December 17, 2020 19:07 UTC