Fraud Management & Cybercrime , Fraud Risk Management

Determining the Total Cost of Fraud

Leverage Gartner insights to fortify payment fraud prevention strategies

As businesses transform to meet shifting consumer behavior and emerging fraud patterns in digital channels, it’s never been more important to assess the comprehensive financial impact of fraud solutions.

According to Gartner, “In order to build an effective fraud detection strategy, fraud leaders must attempt to quantify how much fraud is costing their organization. This cost will lead to informed discussions about how much to invest in detecting and preventing fraud, and how to best align a fraud strategy to organizational goals.”

Watch this video, to learn how:

  • Optimize fraud investments by developing a “total cost of fraud” model aligned with overall business needs
  • Calculate costs of fraud that impact onboarding, account access and payments
  • Implement effective fraud detection and prevention solutions that drive down the total cost of fraud

1 Gartner, How to Create a Payment Fraud Detection Strategy at the Organizational Level, Akif Khan, 21 January 2020

About the Author

Information Security Media Group

Information Security Media Group (ISMG) is the world's largest media company devoted to information security and risk management. Each of its 37 media sites provides relevant education, research and news that is specifically tailored to key vertical sectors including banking, healthcare and the public sector; geographies from North America to Southeast Asia; and topics such as data breach prevention, cyber risk assessment and fraud. Its yearly global summit series connects senior security professionals with industry thought leaders to find actionable solutions for pressing cybersecurity challenges.

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