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What is fraud?

fraud
noun

Fraud is a deliberate and deceptive act that involves dishonesty or misrepresentation with the intention of gaining something of value, often at the expense of another party. While it can occur in various contexts, including the internet, it extends beyond merely making false transactions online.

How does fraud work?

Fraud can manifest in numerous ways, and it's this very diversity that renders eCommerce providers susceptible to fraudulent activities. Given that eCommerce transactions lack the security of chip and PIN systems, requesting buyers to furnish photo identification might dissuade them from finalizing their purchases. This is primarily due to the added complexity faced by eCommerce providers in their efforts to combat fraud.