Payments News

Retailers’ Cost of Fraud Keeps on Rising. Now, It’s $2.94 for Every Fraud Dollar, LexisNexis Says

Jul 31, 2018

It’s a fact of doing business that retailers have to contend with fraud. Now, the cost of managing fraud has increased, says LexisNexis Risk Solutions in its 2018 True Cost of Fraud report for retailers. For every dollar of fraud, merchants pay $2.94, a figure that is 6% more than the $2.77 seen last year.

The frequency of attacks is up, too. The monthly average of 306 successful fraudulent transactions is up from 238 last year. At the same time, the average for prevented fraudulent transactions increased from 257 to 313.

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