The True Cost of Fraud to Your Business

Posted on September 23, 2014

In August 2014 LexisNexis released a report titled "Post-Recession Revenue Growth Hampered By Fraud As All Merchants Face Higher Costs".  A number of the researcher's findings suggest that merchants are getting hit more often by fraud and the costs of those frauds are increasing.  The report found that in 2014:

• Merchants lost on average 0.68% of their revenue to fraud,
• The average merchant experienced 133 successful fraudulent transactions per month.  This marks a shocking 46% increase from the previous year, and
• Each dollar of fraudulent transactions cost the merchant $3.08 up from $2.79 the previous year.

To report can be found at: http://www.lexisnexis.com/risk/downloads/assets/true-cost-fraud-2014.pdf#sthash.bgd8uTtJ.dpuf