All posts with the tag Cost of Fraud Calculator
Unfortunately, those tasked with preventing CNP fraud often lack the required resources to achieve optimal performance. In fact, over 50% of the merchants surveyed in the Merchant Risk Council’s (MRC) 2015 Global Fraud Survey cited ‘lack of sufficient internal resources’ as one of the top three eCommerce fraud challenges they faced in the past year.
Senior executives do not allocate sufficient resources to fraud management because they fail to appreciate the true impact fraud operations have on their business as a whole. Risk and fraud professionals, meanwhile, struggle to clearly present the business case for investing in fraud operations to their superiors.
Along with our colleagues at the MRC, Riskified created the Cost of Fraud Calculator – a free, interactive tool that presents a holistic picture of the true cost of fraud for an organization and visualizes the business impact in a manner that can be shared with executives. Our hope is that senior managers will be more open to allocating resources to fraud management operations once they see the impact on sales revenue and customer experience.Read More