Lack of Expertise Explains why Outsourcing is the CFO Best Practice for Fraud Prevention
JoTo PR Client, Chargebacks911, was featured in a byline article in ValueWalk titled, More CFOs Are Outsourcing Their Fraud Prevention.
Serving as a CFO means wearing many different hats within an organization. Deciding the best practice for fraud prevention is one of those hats. According to the Global Fraud Index, the total cost of eCommerce fraud increased 5.5% between Q2 2016 and the same timeframe the following year.
Looking at CFOs in both brick-and-mortar and eCommerce environments, roughly 3 out of 4 say they have plans to outsource at least some of their fraud prevention efforts. 43% overall say they are “very likely” to do so…but that figure rises to 69% among eCommerce executives. What’s driving this shift? Though businesses traditionally tried to keep processes in-house whenever possible, it’s clear that in-house teams lack the expertise, bandwidth, and range of tools to address fraud effectively.
Monica Eaton-Cardone is an accomplished entrepreneur, speaker, author and industry thought leader who is internationally recognized for her expertise in risk management, chargeback mitigation, fraud prevention and merchant education. Eaton-Cardone found her calling as an entrepreneur when she sold her first business at the age of 19. She later became an eCommerce merchant; and after grappling with chargebacks and fraud, she took it upon herself to develop a comprehensive, robust solution that combined agile technologies and human insights. Today, Eaton-Cardone’s innovations are helping thousands of organizations achieve sustainable growth, and she continues to pioneer loss-prevention best practices as CIO of Global Risk Technologies and COO of Chargebacks911. Eaton-Cardone is a champion of women in IT and business leadership and aims to inspire the next generation of young innovators through her nonprofit organization, Get Paid for Grades.
ValueWalk covers financial news and discusses value investing, hedge funds, banks, asset managers and technology.
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