‘Risk and Fraud’ or ‘Trust and Safety’?

[Mike Russell]

Sift is trying to change the conversation about online fraud prevention with its term digital trust and safety. They claim this new approach to online fraud gives customers “the freedom to grow, innovate, introduce new products, features, and business models — without increased risk.” (p.4)

Their eBook (“Leading The Digital Trust & Safety Transformation”) defines the business need for shifting away from the traditional risk and fraud posture, toward a trust and safety posture.

Beginning on page eight, Sift lays out a framework and prompts for internal conversations for applying changes in mindset, processes and technologies to promote “the four qualities of a digital trust and safety organization:”
• Balance growth with security
• Cross-functionally aligned
• Holistic
• Forward-thinking

Pages 10-13 discuss how to evolve to digital trust & safety in four fundamental aspects of an organization: mindset and organizational structure, processes, and technology. As the section promises, each of these four pages lists several ‘action items’ for initiating an evolution toward a digital trust and safety organization, including:
• Assess how digital trust and safety relates to other company efforts, such as digital transformation.
• Create a framework for achieving digital trust and safety goals and assign owners.
• Identify what security checks are in place that don’t need to be.

Throughout the eBook, Sift substantiates its model with insights from a proprietary survey of “500 employees responsible for fighting fraud.” These insights might well help fraud leaders to advocate for “Leading The Digital Trust & Safety Transformation” in their organizations.

Questions for you:
• Has your team discussed the action items Sift suggests?
• How have you taken action following that discussion?
• What lessons can you share from those actions?

Download the resource and share your thoughts: https://resources.sift.com/ebook/leading-the-digital-trust-safety-transformation/

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