The universe of fraud
More fraud, more spending
Credit card fraud isn’t the only threat out there. What types of abuse are businesses dealing with?
Payment fraud:digital goods
Fake accounts Payment fraud:physical goods
Friendly fraud Card testing
Money laundering
Account takeover
Promotion / trial abuse
Fake content / listings
46%
29%50
14 5
55
5 4
015
124
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13/15
31%
39%eGIFT CARD
62%
20%25%
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34%
25%Quick Weight
loss
Account takeover: The new frontier of fraud
What’s top of mind for online businesses fighting fraud and abuse?We surveyed hundreds of companies to find out.
Data breaches and phishing attacks are flooding the black market with credentials for criminals to monetize.
48%Have seen a rise in account takeovers over the past year
86%Expect to see the same or more fraud and abuse in 2017
91%Plan to spend the same or more on preventing fraud and abuse
Automation is the future (and the present)
In December 2016, Sift Science surveyed more than 200 businesses who are combating online fraud about their experiences, goals, and concerns.
© Sift Science 2017
Teams are expected to do more with less.
72%
60%
53%
35%
41%Spending too much time and money on manual review
Meeting customers’ high expectations for custom-er experience
Expanding into new markets without increasing risk
Launching new products without increasing risk
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Fraud-Fighting Trends 2017
What keeps fraud fighters up at night
60%Spending too much time and money on manual review
60%Spending too much time and money on manual review
41%Launching new products without increasing risk
53%Meeting customers’ high expectations for customer experience
43%Scaling business operations that include fraud
72%Preventing fraud without turning away good customers
35%Expanding into new markets without increasing risk
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77%Losing money to fraud
52% Staying ahead of changing fraud patterns
9%Will have a larger budget for tackling fraud/abuse
70%Want to create more e�cient processes
70%Plan to automate more fraud/abuse management in 2017
22%Think they’ll hire more people to focus on fraud/abuse
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%