Date:20/02/17

Experian: global fraud losses will reach $ 2 trillion by 2020

Results of a study commissioned by Experian and conducted by staff Forrester Consulting show that  42% of top managers of large companies consider cheating the second most important obstacle to business growth (the main negative factor is the activity of competitors).
 
The study involved almost 400 top managers of companies in Europe, Middle East and Africa.
 
The survey results show that many executives do not realize how important it is to find a middle ground between the procedures to prevent fraud and customer comfort.
 
And this despite the fact that the overwhelming majority of respondents did not believe enough in their effective use of counter-fraud processes.
 
More than three-quarters (77%)  of director generals acknowledged that their fraud prevention policies are not effective.
 
Only one in four (28%) of the organization, according to the respondents, there is a balanced method of dealing with fraudsters, which doesn’t create inconvenience for law-abiding customers.
 
Less than one third (31%) of the companies carry out constant monitoring of attempted fraud, monitor customer transactions in real time, or have access to accurate data sources.
 
As a result, almost half (45%) of all senior management in the coming year plan to improve the anti-fraud analyst, investing in new technology, including software to recognize devices.
 
Many managers are aware of the urgent need to act quickly, for fear that the traditional business model will become completely obsolete in the next five years, reports Computerworld.

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