Fraud Risk Belongs in the Executive Suite | Opinion
Summary
Brent Whittington argues that companies should treat fraud risk as an executive responsibility, not just a cost assigned to fraud teams. He says weak accountability and product decisions can leave known vulnerabilities unresolved, while generative AI and AI agents create new risks around identity checks and authorization.Key Facts
- The article says Americans reported about $16 billion in fraud losses in 2025, the highest amount recorded by the Federal Trade Commission and about 25 percent higher than in 2024.
- The article cites the FTC as saying reported losses understate the total because many victims do not report fraud.
- Whittington says companies often judge fraud teams on losses without giving them authority over product and technology decisions that can create vulnerabilities.
- He says more than 80 percent of the companies he has worked with had fraud teams that knew about weaknesses, while other teams controlled the needed fixes.
- The article cites Entrust’s 2026 Identity Fraud Report, which says deepfakes made up one in five biometric fraud attempts in 2025 and deepfake selfies used for identity checks rose 58 percent.
- Whittington warns that AI agents may take actions such as booking travel, disputing charges, changing addresses, and moving money on customers’ behalf.
- He says companies may struggle to determine whether an AI agent is authorized and whether a customer approved a specific action.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
