Online fraudsters apparently do not keep nine-to-five hours.
According to a new study from fraud detection technology provider Sift Science, “The United States of Fraud,” online transactions conducted at 3 a.m. are most likely to be fraudulent.
The high likelihood of fraud at 3 a.m. occurs across all time zones. Also, fraudsters are more likely to transact during the weekdays.
Looking at states where suspicious activity is more likely to occur, the study finds that Alaska has the highest fraud rate based on billing address, while Delaware has the highest fraud rate based on shipping address.
In contrast, the Midwest has the lowest rate of fraud based on both shipping and billing addresses. However, Massachusetts has the overall lowest rate of fraud.
There are also differences in likelihood for online fraud by gender and age. Men are slightly more likely to be fraudsters than women. And users identifying themselves in the 85-90 age range are two and-a-half times more likely to be fraudsters than the average user.
Other notable findings include:
• A user with two to four accounts linked to one device is eight times more likely to be fraudulent.
• Purchases worth $0-25 are twice as likely to be fraudulent, suggesting criminals test stolen credits cards for validity, trying low-value orders.
• Accounts less than three days old are three times more likely to be fraudulent, while accounts that are two months old are two times more likely to be fraudulent.