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Even as stores reopen in many parts of the country, people are still shopping online more than ever. And that includes using new sites set up by their favorite small businesses attempting to stay afloat through perilous economic times.
But be careful, experts warn, because cybercriminals are flocking to e-commerce sites, too. Their favorite crimes include opening fake accounts at retail sites and hijacking real ones through identity theft.
Online fraud was already on the rise before COVID-19, largely thanks to the rollout of chip-and-signature technology, which has made the in person credit-card fraud of the past a lot tougher to pull off.
Account takeovers jumped 72 percent in 2019, to 13 million cases, according to the most recent figures from the security firm Javelin, which tracks financial crime. Losses from consumer fraud in the U.S. hit $16.9 billion