A company’s ability to identify and prevent fraud has always been critical. But now, with COVID-19 forcing more commercial activity online than ever before, the need for effective fraud prevention has become even more evident. As more and more transactions and interactions go digital, fraud continues to rise and evolve. In total, cybercrime is projected to cost the world $6 trillion annually by 2021.
With so much money at stake, merchants everywhere are looking for the best fraud prevention solutions. However, it can be hard for merchants to know what kind of approach to fraud prevention will be most beneficial for their business. There are many options on the market and a variety of factors should be considered in order to make the right decision. To help merchants navigate this choice, Mercator Advisory Group partnered with Forter, a leading fraud prevention company, to publish a white paper on topic.
The paper identifies the common problems and pain points that legacy fraud prevention approaches create for merchants and offers recommendations on what capabilities an effective solution must include.