65% Of Retailers Lack The Tools To Handle Fraud

Up to 65% of retailers say they lack adequate fraud management tools to support effective anti-fraud strategies, according to a report from ACI Worldwide. More than half (54%) of retailers in the U.S. and Europe still need to consolidate their fraud management solutions across all channels.

For the report, titled: Managing Fraud In An Omni-Channel World, ACI Worldwide commissioned Forrester Consulting to conduct a research study that outlined current omnichannel fraud management capabilities. The study was designed to identify and evaluate current pain points for omnichannel fraud management in the retail industry, and highlight the tools and strategies required to retail fraud effectively.

The top three challenges retailers face as they implement fraud management include:


  • Omnichannel data aggregation (76%);
  • Customer demand for faster fulfillment (73%); and
  • An increasing number of payment options (71%).

With consumers continuing to shop and spend through an expanding number of channels and touch points, businesses need to make firm plans to protect payment and customer data. As retailers plan to beef up payment security, 35% of respondents identify point-to-point encryption (P2PE) as critically important, while 31% believe EMV/chip and PIN acceptance at the point of sale is critical. Retailers also pointed to network segmentation, key exchange/management, estate management and tokenization, as critical.

At the conclusion of the report, Forrester Consulting offered the following recommendations:

  • Eliminate line-of-business silos and establish a lead fraud management individual or department to ensure that data can be shared, and fraud can be tracked and prevented across all sales channels;
  • Articulate the value of effective fraud prevention across the business to secure necessary funding and maintain effective protection as the business grows;
  • Ensure tokenization and P2P encryption technologies are adopted to increase payment security and simplify compliance; and
  • Leverage tools and services that enable data integration and real-time fraud screening.

Click here to access the complete report.

Featured Event

Join 5,000+ attendees for an immersive experience where you can get inspired by retail’s most innovative minds and see their big ideas in action. Use code RICE25P04 to save up to $500 on your pass!

Free Expo Pass for Retailers and Brands!
Save up to $500 on your All-Access Pass and choose from 100+ sessions with an exclusive Retail TouchPoints discount!



Access The Media Kit


Access Our Editorial Calendar

If you are downloading this on behalf of a client, please provide the company name and website information below: