Digital fraud trends peaked during the holiday shopping season - TransUnion

72% of Hong Kongers are concerned with being victimised by online fraud this holiday season.

According to TransUnion’s study, e-commerce fraud trends were prevalent during the 2023 holiday shopping season.

In Hong Kong, this included the 11/11 and the Black Friday, and Cyber Monday sales.

Data for Hong Kong showed that 1.0% of e-commerce transactions during that holiday period were suspected to be fraudulent.

The average number of suspected e-commerce fraud attempts during the same period when the consumer was in Hong Kong during the transaction was 9.4% lower than the same period in 2022

The highest suspected digital fraud rate was recorded on the Sunday before Cyber Monday at 2.0%.  

In another TransUnion study, 72% of Hong Kong consumers are extremely, very, or moderately concerned with being victimised by online fraud this holiday season — an increase of 18% from 61% in 2022.