CEO & Co-Founder, BeyondID
Chairman of the Board
Arun Shrestha has 20+ years of building and leading enterprise software and services companies and is committed to building a world class identity services organization. Prior to co-founding BeyondID, Arun held executive positions at Oracle, Sun Microsystems, SeeBeyond and most recently Okta, where he was responsible for building a world class services and customer success organization.
Fraud is no longer just a cybersecurity issue — it’s a strategic business risk that threatens brand reputation, operational efficiency, and customer trust.
Yet despite rising threats, many organizations still struggle to secure C-suite buy-in to invest in identity protection and fraud prevention. Why? Fraud is often labeled an IT issue, when in reality, it affects — and is the responsibility of — every department.
Luckily, the solution is not only effective — it’s highly marketable when framed correctly. Identity is the key to modern fraud prevention. A strong identity strategy doesn’t just stop fraud, it proactively improves user experience, streamlines operations, and strengthens security across the organization.
When you position identity as both a fraud prevention essential and a driver of broader business value, leadership starts to listen. By positioning fraud prevention as a shared responsibility across teams, you can maximize budget efficiency, distribute risk, and ensure that funding, ownership, and accountability are shared — not siloed in IT.
Here’s how to reframe the conversation and get the executive support your team needs to move fraud prevention forward.
Start with the CISO: From Reactive Defense to Proactive Strategy
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Position fraud prevention as a shared strategic pillar that elevates the security function — helping CISOs gain broader support, budget, and credibility across the C-suite.
Cybersecurity is already a board-level concern — and for CISOs, modern Identity and Access Management (IAM) platforms like Okta, CyberArk, SailPoint, and others are foundational to zero trust and data protection. But in today’s threat landscape, with rising risks like account takeovers and credential stuffing, baseline defenses aren’t enough.
Fraud prevention is more than a tactical layer — it’s a strategic pillar of zero trust that strengthens the entire security organization.
When prioritized as part of a zero trust framework, fraud prevention delivers measurable value to the CISO and their team:
- Brand trust: Stops high-profile fraud incidents before they happen, protecting both the organization and the credibility of the security function.
- Compliance readiness: Streamlines audit trails, enforces least privilege, and supports key regulations like GLBA, PCI DSS, and FFIEC.
- Board-level risk mitigation: Aligns security initiatives with recognized business risks, helping CISOs gain executive support, budget, and headcount.
Practically, this means fewer manual investigations, faster detection of identity-based threats, and reduced strain on overstretched security teams. It’s a scalable, high-impact way to mature zero trust while delivering results where they matter most.
Support the CIO: It’s Not Just Their Job to Stop Breaches
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Fraud prevention works better when IT isn’t alone — by distributing ownership across departments, CIOs gain critical support, reduce burnout, and ensure smarter investments that strengthen security and performance across the organization.
Practically, this means fewer manual investigations, faster detection of identity-based threats, and reduced strain on overstretched security teams. It’s a scalable, high-impact way to mature zero trust while delivering results where they matter most.
Modern CIOs are juggling a lot — driving innovation, keeping systems running, and staying ahead of threats, all with limited resources and nonstop priorities. With their teams deep in the day-to-day tech grind, identity protection can slip down the list. But fraud prevention isn’t just their job — and it shouldn’t be something anyone handles on the side.
According to a 2024 global Trend Micro survey of IT leaders:
- 42% say the CEO should be accountable for a breach
- 34% point to the CIO
- 26% to the CISO
- The rest to other executive roles across the business
Clearly, there’s confusion — but what’s not in question is that IT takes the fall when something goes wrong.
When fraud prevention becomes a shared responsibility across departments — and is backed by a strong identity strategy — CIOs gain tangible business advantages:
- Reduce IT strain: Automate identity workflows and eliminate time-consuming manual access management.
- Strengthen cross-functional alignment: Turn fraud prevention into a team sport, improving visibility and accountability across departments.
- Enable secure innovation: Free up IT bandwidth to focus on growth-driving initiatives instead of constant firefighting.
This approach improves collaboration with security and compliance teams, accelerates issue resolution, and prevents burnout from crisis-mode escalations. It’s a smart business move that helps CIOs scale IT impact while maximizing budget efficiency — without shouldering the burden alone.
Bring in the CMO and COO: Fraud Impacts Brand and Operations, Too
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Identity-first fraud prevention isn’t just a security win — it protects the brand, improves efficiency, and gives CMOs and COOs a stake in driving resilience across the business.
Fraud doesn’t just compromise security systems — it impacts how your organization is perceived and how it runs. For CMOs, it’s a brand risk. For COOs, it’s an operational liability. That’s why both roles deserve a seat at the fraud prevention table.
A single phishing attack or data breach can do long-term damage to member trust and business continuity. Identity-first fraud prevention helps marketing and operations leaders proactively defend what matters most.
Here’s how it benefits both:
- CMOs strengthen customer trust: Secure, phishing-resistant authentication ensures digital experiences are both seamless and safe — because if ease-of-use or security fails, customer confidence follows.
- COOs accelerate value and security: Identity-based automation speeds up access, reduces risk exposure, and creates a stronger security perimeter across the organization.
By elevating fraud prevention as a shared initiative, CMOs and COOs can partner with IT to build a more secure, trusted, and efficient organization from the inside out.
Make the CFO Case: Fraud Prevention Is a Smart Financial Move
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Shared investment in identity pays off — CFOs can reduce financial risk, avoid breach costs, and drive operational savings across departments, not just in IT.
It’s tempting to see fraud prevention as just another line item — but the real cost comes from not investing. According to IBM’s 2024 Cost of a Data Breach Report, the global average cost of a data breach hit $4.88 million. Of that, organizations spent an average of $1.63 million on detection and escalation, and $1.35 million on post-breach response — including credit monitoring, call centers, and compliance-related tasks.
Regulatory fines are rising fast: in 2024, the number of organizations paying penalties over $50,000 increased by 22.7%. Under major regulations like GDPR, fines can reach up to $22 million or 4% of annual global revenue, whichever is higher.
A single breach can snowball into regulatory penalties, reputational damage, and long-term customer churn — all of which can dwarf the cost of proactive identity protection.
An identity-first approach turns fraud prevention into a financial win. Here’s how:
- Avoid breach-related losses: Reduce the likelihood and impact of costly fraud incidents, fines, and remediation efforts.
- Streamline operations: Eliminate redundant workflows and reduce manual identity management costs.
- Improve compliance efficiency: Automate enforcement of controls to avoid audit penalties and reduce compliance overhead.
With a robust fraud prevention strategy in place, CFOs can feel confident knowing their investment directly supports cost avoidance, operational efficiency, and long-term ROI — not just risk mitigation.
Investment in Identity and Access Management is an Executive Priority
Fraud prevention is no longer just an IT concern — it’s a business-critical priority that demands alignment across the C-suite. From protecting brand trust and streamlining operations to avoiding costly breaches and ensuring compliance, every leader has a stake. When anchored in a strong identity strategy, fraud prevention becomes more than defense — it drives efficiency, resilience, and business value.
BeyondID helps C-suite leaders do exactly that by turning the identity platforms they already have into powerful, identity-first fraud prevention solutions built for today’s threats.
Ready to shift the conversation?
Contact us today to learn how BeyondID can help your C-suite champion smarter fraud prevention — together.
About BeyondID
BeyondID is a leading AI-powered, Managed Identity Solutions Provider (MISP). By delivering secure solutions and services that help manage digital identities, BeyondID enables organizations to control access to applications, data, networks, and devices while facilitating continuous regulatory compliance and ensuring seamless user experiences. BeyondID has created Secure Total Experiences for organizations like Texas Dow Employees Credit Union (TDECU), Northern Trust, Johnson Financial Group, and Commerce Bank.
