Fraud costs prevailing in mobile transactions
TRUSTID
SEPTEMBER 30, 2018
With mobile fraud on the rise, a new study found that 53 percent of mid-size to large banks say that identity verification is one of their biggest challenges. In a year-over-year survey of executives in retail and commercial banks, credit unions and related companies, the LexisNexis 2018 True Cost of Fraud report for the financial-services sector found that for every dollar of fraud, it costs another $2.92 in related costs.
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