These are increasing problems across all online sales.
I actually spoke with my Ex, 30+ year politician earlier this morning regarding post I'd made. That aside we were discussing some of the very issues I was pointing out. One of the few things I miss from the relationship was the long detailed talks on just about anything.
It's likely that had you not settled this you'd probably a chargeback. According to Mastercard she told me "Friendly Fraud" or "First Person Fraud" as its called the company has estimated some 100 billion dollars this year representing over 60% of all chargebacks placed. She told me in the same report released that if things do not change and trends continued its estimated by 2027 that near 350 Billion in eCommerce fraud will be occurring and that's set off all sorts of alarms in DC and other nations.
She told me that much of it has been learned patterns, this is not essentially organized crime like identity theft or employee theft like crime which is also a growing issue especially in Brick and Mortar. In fact its important you protect yourself now more than ever against identity theft she told me as ChatGPT that "AI Talk Application" is being used nefariously towards just that. Apparently many applications have been designed whereby it literally feels like you're communicating with authorized entities yielding information that ends up in identity theft. BE CAREFUL.
So these learned patterns... Essentially a consumer gets taken, that might be ordering something that not functional, not as described, counterfeit, on and on. When they exhaust what would be common effort to resolve such things and have not been satisfied they fall back to their card issuing bank. Bank of course has them perform the chargeback, then they've learned that its a tool that can be used exploitable and set off to open new online accounts via online banking.
She told me she's not saw any sort of demographics breakdowns, age groups, socio-economics and then some but she told me it's likely younger shoppers, pass the how to's to others via social media and personal relationships. Told me have to consider what's happened with student loan crisis, child tax credit changes and more. Covid altered the path of truckloads of lifestyles in Westernized nations according to her and since those demographics resist significant change of lifestyle, aka: living within means they've taken to alternative ways using mainly online commerce. I was surprised that she did not point towards those who've been socio-economically challenged even before Covid. I was told most of those people don't have the resource available to really engage in this sort of thing in any reasonable way and given social services monies there be both fear of loosing those as reporting mechanisms already exist to prevent social services fraud.
Now how all this get's dealt with is most certainly up in the air but there are plans in the works that she said she wasn't at liberty to discuss even with me. As to current law enforcement, by sheer numbers of magnitude and limited resources in literally every respect they are basically paralyzed. I was told in the past amounts of fraudulent behaviors didn't amount to much in compare to global ecommerce figures but that is tilting. She told me in 2023 six to seven trillion dollars have been deemed reasoned estimates of global ecommerce and as you might notice, that 2027 estimate of 350 Billion would be a highly significant figure given total estimates in compare to that of today.
So keep you're eyes on the road and you're hands upon the wheel.
