With consumer behaviour fast-tracking to something that appears to be more ‘normal’ after months of uncertainty, experts are saying there are strong indications that the bounce-back could be like no other.
But with great opportunity comes great risk
There are always new challenges facing businesses and the retail industry has faced rapid changes due to technological evolution, concerns around supply chain issues and staff shortages across the UK.
Fraud continues to pose a serious threat to customers – especially as the volume and rate of transactions increase over the coming months.
To put it into perspective, retail fraud increased by 50% between 2020 and 2021, and identity fraud increased by 11% in the first six months of 2021.
This week, Hitachi Capital Consumer Finance’s Head of Retail, Brian Flesk, discusses the current status of fraud within the UK, how it can impact retailers and provides actionable insight to reduce the risk of falling victim to fraud as we head into the festive season.