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A LexisNexis Risk Solutions study highlighted fraud losses per card in an issuer's portfolio, by card type.

Credit unions and other card issuers are losing a whopping $10.9 billion a year to fraud and criminals appear to be attacking from all angles, a new LexisNexis Risk Solutions study said.

The study of 100 risk and fraud decision-makers and influencers working at U.S. card issuers reported 71% of card fraud now comes from credit cards – three times the fraud from debit cards, which accounted for 25% of the total. Prepaid cards contributed only half a billion in fraud losses, the study said.

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Tina Orem


Credit Union Times

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