“Soft” costs – loss of reputation and productivity – are the ones that most get the attention of Terry Austin of Guardian Analytics. Austin: “Institutions really need to find the techniques to identify fraud much earlier in the process” Only 28 percent of respondents said they were prepared for a basic phishing or vishing attack. Only 14 percent said they’re prepared to detect and prevent mobile fraud, according to the 2012 Faces of Fraud survey. “While online fraud is growing and is a very dramatic problem, it’s also a gateway to all the other types of offline fraud””]
Source: https://www.cuinfosecurity.com/what-are-hidden-costs-fraud-a-4799