Traditional forms of fraud and promo abuse often begin before transaction, but assessing risk at account opening requires a particular balance between user experience and risk management.
Organizations tend to focus on direct or “hard” fraud losses, while “soft” fraud like promo abuse are often overlooked. Yet, promo fraud — the fraudulent exploitation of promotional incentives, including referral rewards, beyond their intended use — represents $89B in total U.S. retail revenue loss annually according to a recent PYMNTS’ study.
In this webinar, we will discuss strategies for identifying and mitigating both direct fraud and promo abuse beginning at the account opening stage.
Watch this on-demand webinar to learn about:
- The difference between soft and hard fraud & their associated costs
- The benefits of identifying and tracking soft fraud — including promo abuse
- Key strategies for stopping fraud sooner in the customer journey