Security News > 2020 > January > Fraud prevents a third of businesses from expanding digital capabilities

Kount released a new research report on digital innovation and emerging fraud, which found that the most innovative businesses are also the ones facing the greatest fraud threats.

The report, conducted by Javelin Research, surveyed hundreds of respondents across the retail, restaurant, insurance, and financial industries and revealed more than 40% of businesses say fraud impedes their expansion into new digital channels and services.

"Unfortunately, these businesses are not adopting the proper controls related to fraud. This report underscores the fact that digital innovation and the corresponding increases in revenue in these industries will never reach their full potential without integrating suitable fraud prevention initiatives."

As a result, retailers report that digital fraud and account takeover are their most significant fraud threats.

What's more, only 4% of restaurants ranked managing digital fraud risk as a top challenge for digital innovation, compared to 12% of all businesses.

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