US Retailers Lose $191 Billion a Year to Identity Fraud
Written on November 11, 2009 – 3:24 am | by admin
LexisNexis and Javelin Strategy and Research revealed that U.S. Retailers are losing around $191 billion every year as a result of identity fraud. One in five merchants experienced an increase in unauthorized transactions associated with identity fraud. Their recent report examined how U.S. retail fraud affects merchants, financial institutions and consumers.
“The impact of retail fraud is multifaceted and far-reaching, as this crime claims multiple victims,” said Dennis Becker, LexisNexis Risk Solutions. “With the economic downturn and increasing sophistication in criminal fraud methods, it is crucial that merchants and financial institutions work together to mitigate fraud.”
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Tags: 191 Billion, Fraud, Identity Fraud