Candice Pressinger - Director of Customer Data Security, Elavon Europe talks to Adrian Evans.

Key learnings:

1. The "False Positive" commercial gap Candice reveals a staggering statistic: while global fraud costs the industry approximately $300 billion, the cost of "false positives" (legitimate transactions blocked by over-zealous security) is double that at $600 billion. Furthermore, 50% of customers rejected by security checks never return to that merchant.
2. Fraud as a macro-economic power The scale of the threat is immense. If cybercrime were a country, it would have the third-largest GDP in the world, sitting just behind the USA and China. Fraudsters are now operating as agile, data-led, high-tech enterprises rather than isolated criminals.
3. The necessity of "Consortium Data" To combat globally coordinated fraud, organisations cannot work in isolation. Candice highlights the move towards consortium data where acquirers and merchants share anonymised datasets to identify risk signals in real-time as the only way to match the fraudsters' network.
4. Build internal alliances before you need them For large-scale security integrity, collaboration must start early. Candice advises against working in silos; leaders should build alliances with sales, legal, marketing, and platform teams before crisis strikes or a project launches ensuring everyone understands their piece of the jigsaw puzzle.
5. The rise of "Agentic Commerce" Looking to the near future, Candice identifies Agentic Commerce, where AI agents perform purchasing tasks on behalf of consumers, as the next major industry evolution. She compares its potential impact to the revolutionary shift from magnetic stripe/chip to contactless payments.