91 percent companies to spend more on fraud prevention in 2017

The study also found that while more than three-quarters (77%) of respondents are worried about losing money to fraud, near the same amount (72%) are concerned about turning away good customers. In this delicate balancing act, both sides seem to demand equal priority.

48% of companies saw account takeover rise in 2016 and 86% of people expect to see the same or more fraud and abuse in 2017. Data breaches and phishing attacks are flooding the black market with credentials for criminals to monetize. In the light of these results: 70% of companies plan to automate more fraud/abuse management in 2017. 

The study called Sift Science Fraud-Fighting Trends 2017 is based on a survey conducted with 200 online businesses who are actively fighting fraud and abuse.