Stop reacting to fraud, start preventing it.
Fraud is no longer just a risk; it’s an inevitability for organisations that fail to take a proactive stance.
In 2023, the UK witnessed a staggering £2.3 billion in reported fraud losses, marking a 104% increase from the previous year. Payment fraud alone accounted for over £1.17 billion in losses, underscoring the magnitude of the threat. With the surge in digital transactions and the growing sophistication of cybercriminals, merely reacting to fraud is insufficient. The key to safeguarding your organisation and your customers lies in prevention.
Public sector organisations, especially those processing payments over the phone, are prime targets. Data breaches, compliance gaps, and human error create vulnerabilities that fraudsters are quick to exploit.
Traditional fraud prevention methods, such as monitoring for suspicious activity, address fraud only after it has occurred – and by then, the damage is done. Instead, organisations must cut fraud off at the source by securing transactions before threats arise.
A smarter approach to fraud prevention
Secure payment technologies, like allpay’s Callpay solution, offer organisations a way to protect sensitive data at the point of transaction. By allowing customers to enter their payment details using their telephone keypad rather than speaking them aloud, businesses can significantly reduce risk while ensuring PCI DSS compliance. These proactive measures don’t just stop fraud, they enhance customer trust, streamline operations, and safeguard reputations.
Victoria Preece, Director of Governance at allpay, highlights the growing risks facing organisations today:
“Fraud is identified after the payment event and with it evolving at an alarming rate, organisations can no longer afford to take a reactive approach. The distress and anxiety caused to the victims is often long lasting and prevention must be at the heart of every payment process. Implementing secure payment solutions not only helps protect customer data but also ensures compliance and builds long-term trust with service users. The cost of inaction is far too high - it’s time to take control before the payment is taken and fraud takes hold.”
The cost of inaction
A staggering 26% of consumers say they wouldn’t return to a company they suspect of insecure practices. The financial and reputational damage from a single fraud incident can take years to repair - if recovery is possible at all. As fraudsters develop more sophisticated tactics, organisations must evolve their defences accordingly. By securing payment processes now, businesses can avoid the financial, operational, and reputational fallout of fraud before it happens.
If you missed our speaker session at the NHF Finance Conference, watch it back now to learn how allpay and Eckoh are helping organisations like yours fight fraud at its root.
Watch the speaker session
We have robust, proactive prevention measures in place
We’re somewhat proactive, but there’s room to improve
We mostly react to fraud after it happens
Not sure / We don't currently address it directly
