Technology

Holiday fraud activity up 115% in restaurant industry

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December 3, 2021

Fraud is up this holiday season, according to research from Sift, a fraud-prevention firm.

After reviewing food delivery fraud data from its network of over 30,000 apps and sites during Black Friday/Cyber Monday weekend (Nov. 26-29) the company found that payment fraud more than doubled over 2020 Black Friday/Cyber Monday weekend.

The shopping weekend brought a 115% increase in attempted payment fraud across the food delivery industry, said Safety Architect Brittany Allen.

Fraudsters are also making bigger bets: The average value of attempted fraudulent transactions on food delivery apps and websites went up from $35 to $69, representing a 95% increase.

"Fraudsters; they're just like us, "Allen said. "Even they don't want to cook in the days following Thanksgiving. QSRs and food delivery companies have been popular targets in Telegram fraud forums for years, with some professional fraudsters even offering loyalty bonuses and Cyber Monday promotions."