Friendly fraud is a huge (and growing) problem. According to Javelin, it doubled in 2018 – increasing from 7% to 15% of all fraud victims. Whether it’s benign or hostile the result is the same: Unnecessary chargeback costs, lost revenue, increasing false declines and a poor customer experience. And that’s just to start! There’s also a long list of hidden consequences that stem from the friendly fraud ripple effect.
The difference between then and now? New solutions exist to fight back – and savvy merchants are taking full advantage.
Ethoca’s Steve Durney will present the latest industry statistics and predictions for friendly fraud, demonstrate case study results from businesses who are successfully turning the tide, and reveal best practices for those looking to do the same.