Today In Data: Fighting Against Fraud

In today’s enterprise, fighting fraud is something most finance professionals will encounter at some point in their careers.

While most would think that CFOs have the last word on how to deal with fraud, research shows that’s not always the best approach.

Payment solutions company Vesta Corporation recently conducted a study in which CFOs from various industries were interviewed to peel back the curtain on fraud expertise and strategies.

Here are the numbers:

155 | Number of CFOs surveyed from companies with revenues between $10 million and $100 million.

76 percent | Percentage of eCommerce players — generating 90 percent of their revenue online — using internal, in-house resources to fight fraud.

90 percent | Percentage of CFOs who feel good about the fraud prevention strategies they have in place.

12 percent | Amount of retail sales stemming from eCommerce revenue.

20 percent | Increase in fraud between 2015 and 2016.