CyberSource, a Visa subsidiary, have published the ‘2016 UK eCommerce Fraud Report’. This was based on a Visa commissioned an in-depth survey of 200 UK businesses to gain insight into their challenges and priorities for managing eCommerce and mCommerce fraud. This survey was carried out during September 2015, and was conducted in conjunction with Vanson Bourne a leading independent specialist in market. 

The report based on the survey focuses on payment card transaction business. This important report has five sections:

1. LEARN TO FIND THE RIGHT BALANCE: Balanced Fraud Management, Calls For Optimised Fraud Operations
2. LEARN WHEN AND WHEN NOT TO REVIEW: Optimising Fraud Management Through, More Efficient Manual Review
3. LEARN TO ACT SMART ON THE MOVE: Optimising Fraud Management, Across Multiple Channels
4. LEARN TO RECOGNISE YOUR CUSTOMERS’ BEHAVIOUR: Optimising Fraud Management, For Genuine Customers
5. LEARN TO LIVE WITHOUT BORDERS: Managing Fraud Internationally

Each section has useful and pragmatic ideas for corporates. 

Conclusions

1. Fraud management is not just about reducing losses from fraud, it should be balanced against the cost to do so, and the effect on genuine business. Too much manual review can be costly, but eliminating review altogether removes a powerful source of insight and flexibility. Automated fraud screening can be effective and efficient, unless it identifies too many genuine customers as fraudsters. It’s a challenging balancing act, and one occurring in an increasingly complex and competitive eCommerce market
2. Corporates need to consider new approaches and tools, as it is possible reduce fraud losses, operational costs and false positives all at the same time by ‘Optimising Fraud Management’

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CTMfile take: Definitely worth a read, see.