Managing fraud can be time-consuming and is only getting more complex as fraud methods become more sophisticated. Before you decide to take your fraud management in-house, review the challenges you may face – and the options you may have.TALK TO OUR EXPERTS
For in-house fraud protection teams, the daily high-priority to-do list never gets any shorter. If you’re part of an e-commerce team growing at a fast pace, if you’re selling high value-added and easy-to-resell products, or if you’re in a company with headcount restrictions and lengthy hiring processes … you may find it difficult to sufficiently address the challenges of fraud prevention.
Fraudsters are constantly tweaking their attacks and becoming more sophisticated with the way they steal. Combatting fraud is clearly important – but managing fraud too stringently can also lead to poor e-commerce performance, including:
Amid all these challenges, in-house fraud teams also have to account for a litany of ongoing challenges as the normal run of business. It’s a big job, and if you’re committed to managing your e-commerce fraud in-house, you need to be prepared for many different factors and scenarios.
Before launching your in-house fraud team, think through how the team will handle these areas of identifying and preventing e-commerce fraud.
There’s a lot to think through. In our experience, companies that have the best success with managing e-commerce fraud in-house have not only extensive experience selling online, but also have stable budgets that are flexible enough to respond to unexpected fraud attacks. They also must have ready access to the people and technology resources that fraud prevention demands.