The State Of Fraud In eBusiness

Forrester recently surveyed its eBusiness And Channel Strategy Professional Research Panel to gauge the current landscape of fraud in the online channel. Forty percent of our panelists have seen an increase in fraud incidents in the past 12 months and are increasing efforts to combat it as a result. We found that, on average, eBusiness leaders plan to spend $23 million on technology on their customer-facing online sites to detect and combat fraud, and they currently attribute losing 0.6% of their sales to fraud. The most commonly used tactic to detect fraud is payment data mismatch, which almost two-thirds of our panelists believe is an effective strategy. As online fraud increases with the rising importance of the online channel, eBusiness executives must insert themselves more into discussions with IT around fraud and risk and compliance efforts and then market online safety more aggressively to keep customers engaged with the channel.