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	August 25, 2010 (updated August 26, 2010) Market Overview: Fraud Management Solutions Seven Tenets Of Effectively Combating Fraud Costs by Andras Cser with Stephanie Balaouras, Lindsey Coit	Average: 9  (2 ratings)

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Executive Summary

Fraud causes companies to lose money in many ways: They face losses due to chargebacks, unrecoverable transfers, and unnecessary shipping costs; and spend extensive time and resources investigating many transactions. Fraud can impact a company's goodwill. With fraud rings expanding operations beyond the online channel to ATM, POS, branch, and call center, financial services and other organizations need effective ways to protect against cross-channel fraud. Forrester's interviews with IT end users highlighted the following tenets as being important in fraud management products: 1) Use a statistical, vertical model to assess risk scores; 2) use rules to respond to emerging threats; 3) monitor transactions and entities across channels; 4) interdict near real time; 5) use entity and link analytics to see how fraud rings operate; 6) integrate disparate fraud management systems' case-management interfaces in order to navigate between fraud cases and cross line of business boundaries; and 7) integrate with adaptive authentication's monitoring of the login context. We looked at how vendors satisfy these tenets and also provide detailed information on vendors' market presence.

TABLE OF CONTENTS

• Fraud Is Eating Your Revenue And Profits
• How Fraud Management Solutions Prevent Fraud
• The Seven Tenets Of Effectively Combating Fraud Cost
• Fraud Management Grows To A $1.3B Market In 2009
• Fraud Vendors Cater To Diverse Verticals
• Traditional Market Area Boundaries Blur In Fraud Management

RECOMMENDATIONS

• Move Beyond Rules And Transactions For Core Applications
• Supplemental Material
• Related Research Documents

This is an excerpt

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