Fraud Prevention: The delicate balance between customer and criminal

August 20, 2015 by Keir Breitenfeld

Protecting your customer

The impact of fraud on the customer relationship

Sadly fraudsters seem to always be one-step ahead of fraud-prevention strategies, causing organizations to play catch-up to the criminals. And as information security tightens and technologies evolve, so does the industrious nature of organized identity and online fraud. It should be no surprise then that fraud risk mitigation and management will continue to be an ongoing issue for organizations. But what continues to drive investment in identity management and online risk tools is the arms race across organizations to deliver superior customer experience and functionality. While the monetary cost of fraud losses can be high and rather detrimental, the impact of lost customers and overall reputational decline due to poor customer experiences can be higher. The key is finding the right balance between identifying and segmenting likely fraudulent customers across the vast majority of legitimate customers and transactions.

I want to share a recent interactive eBook we launched which outlines the authentication and identity management balance with a focus on the consumer. We highlight current trends and what organizations should be thinking about and doing to protect their business, institution, or agency and customers. I hope you enjoy this look at the impact of fraud on the customer relationship.

fraud management fraud risk customer experience customer service