Security News > 2017 > October > Lending industry faces higher fraud costs than e-commerce, retail and financial services

Lenders face higher costs of fraud than other industries, including retail, e-commerce and financial services. For every dollar of fraud, lending companies incur $2.82 in costs, which includes fees, interest, etc., according to LexisNexis Risk Solutions. Large digital lenders, with over $50 million in annual revenue, are hit hardest by fraud in this space. Growing risks of fraud Based on a comprehensive survey of 168 risk and fraud executives at lending institutions, including auto lenders, … More →

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