Web Desk
Business fraud is getting more sophisticated, and artificial intelligence is making it even harder to stop.
Leslie Lorenco, Sift’s VP of global channel sales, says AI is reshaping how criminals operate, forcing businesses to keep evolving their defense strategies.
Data from Sift’s Q1 2025 Digital Trust Index shows payment fraud still sits at a concerning 3.3%. Industries like financial tech and online marketplaces are among the hardest hit.
The total cost of online fraud could hit $107 billion by 2029.
“Fraud isn’t static—it shifts all the time,” Lorenco explained. “What worked last year won’t cut it now. Scams like Buy Online, Pay in Store (BOPIS) have transformed into AI-driven threats. Merchants relying only on fixed rules can’t keep up.”
AI Fuels a New Fraud Wave
Sift’s 2024 survey found that two-thirds of businesses regularly encounter fraud attempts powered by generative AI.
These attacks are getting smarter, faster, and more targeted.
To fight back, Sift uses AI in its own defense platform. The system covers payment protection, account security, dispute handling, and fraud detection related to account takeovers, money transfers, and chargebacks.
Redesigned Partner Program
Sift, based in San Francisco, revamped its partner strategy to better deal with today’s fraud threats.
This month, it introduced new partnership tiers based on technical skill, certifications, and sales goals. It also widened opportunities for partners to connect with vendors.
The new structure includes:
Service Providers (MSSPs and MSPs) who implement the platform
Influence Partners who refer clients to Sift
Authorized Resellers who sell products directly
Partners gain access to sales engineers, training, marketing assets, and product demos. There’s also deal registration and support for referrals.
A Growing Market Brings Big Opportunities
Global fraud prevention is booming. The industry grew from $28.8 billion last year and is forecasted to reach $63.2 billion by 2029.
Lorenco pointed to a Forrester prediction that 90% of IT spending will be partner-driven by then.
She emphasized that AI lets scammers tailor fraud in ways that feel real. That makes identity-based, automated fraud tools essential.
“This is a huge opportunity for partners to lead with smart, flexible fraud solutions,” she said.
Adapting to a Changing Role
Lorenco, who joined Sift in late 2024 after leadership roles at firms like Sophos and Puppet, said identity is now central to both security and fraud prevention.
A new trend she calls “cyber fraud fusion” is bringing traditional security and fraud efforts under one roof.
Managed service providers (MSPs) and managed security service providers (MSSPs) are evolving too.
They’re no longer just tech security experts—they’re becoming fraud specialists as well. With tools like Sift’s platform, they can now offer all-in-one protection.
“The game has changed,” Lorenco said. “Providers who combine security with fraud prevention are helping clients navigate an increasingly complex digital space.
It’s not just about defense anymore—it’s about being a strategic guide.”
