Advertisement

Report: Online Fraud Down but Avg. Value Up

Sept. 15, 2011

For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study commissioned by LexisNexis Risk Solutions. According to the study, conducted by California-based Javelin Strategy and Research, while fraud rates and the number of fraudulent transactions are in decline, the average dollar value of a completed fraudulent transaction is higher than last year, indicating the nature of transactions is becoming more severe. “It is true there has been industry progress in fraud mitigation, however fraud continues to cost retail merchants over $100 billion annually and consumers are feeling the increased affects of fraud,” says Jim Rice, director of market planning for retail and e-commerce markets, LexisNexis Risk Solutions. “While e-commerce, mobile payments and international commerce provide the retail industry with the most growth opportunities, they also present the greatest challenge to fraud prevention.” The study surveyed more than 1,000 risk and fraud decision-makers and influencers. The full report is available at http://www.lexisnexis.com/risk/2011FraudStudy.



Advertisement


  • Android Pay Up and Running? - Aug. 27, 2015
    Android Pay Up and Running?

    While Samsung recently announced a Sept. 28 date for launch of its contactless mobile payment solution, Google has not said anything officially about its Android Pay solution.

  • Emailage Opens European Data Center - Aug. 27, 2015
    Emailage Opens European Data 

Center

    Emailage, an antifraud technology provider that evaluates risk associated with email addresses, yesterday opened a new data center in the U.K. that will enable it to service European customers more quickly and efficiently.

  • Judge Torpedoes Merchant Settlement with Amex - Aug. 6, 2015
    Judge Torpedoes Merchant Settlement with Amex

    A settlement in a class-action lawsuit between merchants and American Express was scuttled this week by a federal judge in New York City after an attorney working on the case improperly shared information with another attorney representing MasterCard in a similar suit.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

* Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here