Online fraud is now growing faster than online retail, analysis shows

The years of rapid growth in online retail have slowed somewhat. Meanwhile the cybercrime riding the ecommerce wave has not slowed down – on the contrary. — Photo: Nicolas Armer/dpa

BERLIN: Cybercriminals have greatly expanded their criminal activities in ecommerce worldwide over the past year, Lexis Nexis Risk Solutions says in a report published on Wednesday (May 22).

According to the US data security service provider's annual cybercrime report, the number of online purchases increased by a moderate 7% last year.