Reducing your total cost of fraud starts with considering fraud losses as well as other related expenses, efforts, and effects. It’s not just the cost of the fraud itself that hurts your business and customers.

In this short video, Gartner explains how you can optimize your fraud detection strategy to reduce your TCOF. Your goal shouldn’t be to simply reduce fraud but to balance it with your TCOF. Gartner details how you can sell that message internally and develop a cost-effective approach to fraud detection.

Gartner,Video: Cost Optimization in Online Fraud Detection, Akif Khan,16th April 2020.

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Gartner Report Video:

VIDEO

Reduce fraud losses — proactively mitigate fake accounts, chargebacks and ATOs

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Minimize customer lifetime value impact— improve CX and reduce false positives 

Evaluate tools and headcounts — calculate the cost of internal systems, vendor tools and human resources

Don’t just minimize fraud itself —  minimize the total cost of fraud (TCOF) 

Cost Optimization in Online Fraud Detection

Gartner, Video: Cost Optimization in Online Fraud Detection, Akif Khan, 16th April 2020.

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