Technology has led to rapid innovation in payment tools and methods.
However, it has also created more opportunities for criminals to commit fraud.
Payment cards, such as fleet cards, are an especially attractive target. Realizing that even a single fraudulent transaction can have potentially devastating, long-term consequences, managers are constantly working to better understand how, where, and when fraud happen —from both inside and outside of their organizations.
The purpose of this paper is to develop a better understanding of bank card vs. fleet card fraud, including:
- Why fleets using bank cards are more vulnerable to fraud
- Where most fleet card fraud originates
- How to measure the total cost of fraud (TCF)
- How managers can identify fraud and minimize reoccurrences
By WEX Inc.