By any measure, e-commerce is a fast-growing industry. In fact, reported that the U.S. e-commerce sector is growing at more than 14% annually, handily eclipsing economic growth in this country. And while Americans are increasingly shopping online, fraud related to these transactions is also on the rise.

Consider a recent Javelin Strategy & Research study published by, which predicted online fraud in the U.S. will reach $19 billion by 2018. This estimate is almost double the $10 billion figure the firm reported for 2014. 

“Many experts in the industry are speculating that the nationwide migration to EMV credit and debit cards is accelerating this alarming trend in online fraud,” said Amy MacMullen, senior product manager for CO-OP Financial Services. “The theory is that because fraudsters can no longer easily create counterfeit cards, they will shift their focus instead to card-not-present transactions. Whether or not this is the case, the fact remains that consumers are increasingly purchasing online, a dynamic that presents security challenges for credit unions and their members.”

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