White Paper: Total Cost Of Fraud — The Best Answer Is An External Solution
By Accertify, Inc.
In addition to actual losses from fraud, there are the costs of fighting fraud. These might include personnel costs for fraud analysts and supervisors, technology costs for systems built and maintained in-house, operations costs for keeping the systems running, management time and attention and, if you are going to try to stay ahead of the dynamic fraud schemes, research and development costs.
The other element that's below the surface is the cost of administration. This includes actual cash paid in fees and penalties for chargebacks and increased processing rates, staff time lost to processing and accounting for the chargebacks, inventory management expense, and foregone opportunity costs.
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