FraudFighter™ is a loss-prevention solutions provider. The company supplies products that are designed to help its customers reduce or eliminate financial losses that occur as the result of preventable events which lead to shrink.
Organizations suffer shrink from numerous different causes, including theft, fraud, vandalism, waste, abuse, and/or employee misconduct.
FraudFighter helps its customers achieve loss prevention by preventing the losses that result from the presentation of forged or counterfeit documents. This includes counterfeit currency, forged identity documents, fake credit cards, phony traveler checks, money orders and a variety of other documents that can be generally categorized as “transactional” in nature.
At the core of FraudFighter’s loss prevention strategy lays the concept of the authentication of transactional documents. This strategy is targeted most specifically at losses that organizations may experience as the result of fraud, a category of shrink generally defined as “a deception deliberately practiced in order to secure unfair or unlawful gain”.
When organizations evaluate FraudFighter’s solutions, they typically apply a standard return-on-investment model to determine whether the expense for the purchase of the equipment is justified by the losses that can be prevented.
FraudFighter has conducted surveys of its customers, which are represented by some of the major Fortune 100 organizations in industries as diverse as banking, retail, gaming, fast-food and grocery. In these surveys, we determined that for every “hard dollar” of loss that might be experienced by the organization as the result of fraud, the organization may lose as much as $3.50, total, once the other “soft costs” that arise as a result of the original fraudulent event are considered.
This “loss prevention multiplier” has proven to many of our customers that the decision to invest in loss prevention solutions is typically made much easier when they consider the total costs associated with their losses that occur from shrinkage.
Loss Prevention professionals are confronted with a multitude of issues. Employee theft, shoplifting, organized retail crime, robberies, and more. Many times, the solutions being presented to address these problems involve very complex IT projects. Whether HD video monitoring, electronic article tagging, or facial analysis software, the decision to say “yes” will often involve multiple departments, and millions of dollars.
FraudFighter’s loss prevention solutions, then, are a relief for many LP professionals. Low cost, easy to implement, and requiring very little in the way of installation, most of the FraudFighter solutions function as stand-alone devices that will not require anything more complicated than finding an available power outlet to plug into.
To learn more about how FraudFighter can help with your loss prevention strategy, please reach out to us for a fraud vulnerability assessment.