--- title: Global CFO survey - fraud in the short-attention economy date: 2023-05-18T11:36:00+01:00 author: Gerry Carr canonical_url: "https://www.ravelin.com/blog/global-cfo-survey-fraud-in-the-short-attention-economy" section: Blog --- Blog /[Fraud analytics](/resources?search=&category%5B0%5D=134547#resourceContainer "Go to Fraud analytics"), [Machine learning & AI](/resources?search=&category%5B0%5D=134549#resourceContainer "Go to Machine learning & AI"), [Fraud trends](/resources?search=&category%5B0%5D=201169#resourceContainer "Go to Fraud trends") # Global CFO survey - fraud in the short-attention economy Ecommerce CFOs need to understand the scale of the fraud risk that their businesses face. Our survey dives deep on where smart CFOs are directing investment to keep their companies secure... 18 May 2023 ![Global CFO survey - fraud in the short-attention economy](https://storage.googleapis.com/ravelin-website-assets-production/assets/images/_blogSmall/186151/213_CFO_Report_Social_Feature_Image_Blog_885x505.webp) E-commerce businesses are fighting on two fronts - retaining discerning consumers while protecting and growing their businesses in a challenging economic climate. Managing fraud contributes to the success of these outcomes. But it’s on the rise and increasingly more sophisticated. We surveyed ecommerce CFOs across 10 countries and found that fraud continues to be a significant contributor to profit erosion. Here are some key takeaways... ## You can't afford to overlook opportunistic fraud Payment card fraud by criminals remains high. And organized, entrepreneurial fraudsters continue to conjure up more sophisticated schemes such as [fraud as a service](https://www.ravelin.com/blog/why-is-fraud-as-a-service-trending). But more noteworthy is [the rise of the criminal customer](https://www.ravelin.com/blog/friendly-fraud-consumer-fraud-survey). Fueled by the cost of living crisis, more and more customers are chancing their luck on “friendly fraud”, returns and promotions abuse. To the extent that a third of finance leaders say this is the number one risk factor facing their business. ## Is the solution bigger fraud teams? In response to these emerging trends, CFOs overwhelmingly expect their fraud teams to grow over the coming months - with a third of respondents agreeing their teams could increase by 20 percent or more. Yet this is unsustainable: fraud will continue to mutate, customers will become more demanding and fickle, and losses will continue to grow. ## A scalable fraud strategy needs automation It's clear that brands must think differently about managing fraud if they want to stay relevant to time-poor customers, minimize losses, and emerge stronger from the current economic slowdown. This means automating more and relying less on manual investigations. Essentially, fixed rules need to give way to [machine learning solutions](https://www.ravelin.com/insights/machine-learning-for-fraud-detection). Using automation to nip fraudulent transactions in the bud will help free up expert human fraud investigator to help minimize profit erosion, inform product development, and support business growth. ## Find out more here. Check out all the findings from our survey in our in-depth report. Discover how CFOs are handling an increasingly complex fraud landscape and its impact on their business. #### [Get the full report and some specially selected additional resources.](https://resources.ravelin.com/cfo/ravelin-cfo-merchant-report?lb_email=%7B%7Bcontact.email%7D%7D) ## Author ![Gerry Carr](https://storage.googleapis.com/ravelin-website-assets-production/assets/images/_avatarSmall/2005/Screen-Shot-2018-11-30-at-16.25.38.webp) Gerry CarrCMO (Ravelin alumnus) Gerry Carr has previously served as the Chief Marketing Officer of Ravelin. [More from this author](https://www.ravelin.com/author/gerry-carr) ## Related content [Blog / Refund abuse ### Refund abuse is too easy to do – and get away with – to leave unchecked Exclusive Ravelin data reveals the sheer extent of ecommerce refund abuse, including how harmful repeat refund abusers are and the measures to stop them. ![1669287463716 2023 12 07 164059 ybjd](https://storage.googleapis.com/ravelin-website-assets-production/assets/images/_33x33_crop_center-center_none_ns/196785/1669287463716_2023-12-07-164059_ybjd.webp)Nikoleta Dimitriou,Senior Content Manager](https://www.ravelin.com/blog/ecommerce-refund-abuse-is-easy) [Blog / Press release ### Kinguin renews Ravelin partnership after cutting ecommerce fraud to “industry-leading low” The leading gaming marketplace extends AI fraud prevention deal for further three years, with Ravelin automating real-time fraud defenses and supporting growth to over 20 million customers. ![Ravelin Symbol Blue 1](https://storage.googleapis.com/ravelin-website-assets-production/assets/images/_33x33_crop_center-center_none_ns/187712/Ravelin-Symbol-Blue-1.webp)Ravelin Technology](https://www.ravelin.com/blog/kinguin-ravelin-partnership-renewal) [Blog / Payments & payment fraud ### Card payment liability shift – everything you need to know to reduce chargeback burden The knowledge you need to make the most of liability shifts and reap the benefits for your company – including saving money on chargebacks. ![Freddie burgess](https://storage.googleapis.com/ravelin-website-assets-production/assets/images/_33x33_crop_center-center_none_ns/281707/freddie-burgess.webp)Freddie Burgess,Senior Product Support Analyst](https://www.ravelin.com/blog/card-payment-liability-shift-for-chargebacks)