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The Fraud Management Solutions Market Will Exceed $10 Billion By 2023

July 18, 2018

Estimates of the cost of fraud vary widely, but almost everyone agrees that the cost is huge and appears to be increasing. Looking just at eCommerce, Forrester predicts that US and Western European eCommerce fraud will reach $18.6 billion in 2018. And in its 2017 True Cost of Fraud report, LexisNexis Risk Solutions estimates that fraud as a percentage of revenue rose to 1.58% in 2017, up from 1.47% in 2016 — and the volume of fraud increased to a monthly average of 238 fraudulent transactions in 2017, up from 206 in 2016.

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