{"id":885109,"date":"2025-09-10T09:21:19","date_gmt":"2025-09-10T13:21:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/every-dollar-lost-to-fraud-costs-north-americas-financial-institutions-5-according-to-lexisnexis-risk-solutions\/"},"modified":"2025-09-10T09:21:19","modified_gmt":"2025-09-10T13:21:19","slug":"every-dollar-lost-to-fraud-costs-north-americas-financial-institutions-5-according-to-lexisnexis-risk-solutions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/every-dollar-lost-to-fraud-costs-north-americas-financial-institutions-5-according-to-lexisnexis-risk-solutions\/","title":{"rendered":"Every Dollar Lost to Fraud Costs North America’s Financial Institutions $5, According to LexisNexis Risk Solutions"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n Nearly Half of US and Canada FIs Still Rely on Manual Tools While Bots and Scams Surge<\/i>\n <\/p>\n

\n
\n ATLANTA<\/span>
\n <\/span>, Sept. 10, 2025<\/span><\/span> \/PRNewswire\/ — Fraud<\/span> is widespread, hard to measure and difficult to prevent, according to the LexisNexis\u00ae True Cost of Fraud<\/span>\u2122 Study 2025 North America<\/i>. As costs hit record highs, the eighth annual LexisNexis\u00ae Risk Solutions report shows that 44% of North American financial institutions (FIs) primarily rely on manual processes, hesitating to fully embrace automation and AI to combat fraud<\/span>.<\/p>\n

\n

\n
\n \"LexisNexis
\n <\/a>\n <\/p>\n<\/p><\/div>\n

The LexisNexis Fraud<\/span> Multiplier\u2122 shows fraud<\/span>‘s growing impact on operations, compliance, reputation and customer trust. Since 2021, it has increased across all financial services segments in North America<\/span>, now averaging more than $5<\/span> for every $1<\/span> lost to fraud<\/span>, up 25% from $4.00<\/span> only four years ago.<\/p>\n

\n\n\n\n\n\n\n
\n

\n
\n Type of FI<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2021 Cost per
$1.00 Fraud<\/span> Loss<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025 Cost per
$1.00 Fraud<\/span> Loss<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n US Financial Services<\/span>\n <\/p>\n<\/td>\n

\n

\n $4.00<\/span>\n <\/p>\n<\/td>\n

\n

\n $5.75<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n US Lending<\/span>\n <\/p>\n<\/td>\n

\n

\n $4.16<\/span>\n <\/p>\n<\/td>\n

\n

\n $5.38<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Canadian Financial Services<\/span>\n <\/p>\n<\/td>\n

\n

\n $3.65<\/span>\n <\/p>\n<\/td>\n

\n

\n $4.99<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Canadian Lending<\/span>\n <\/p>\n<\/td>\n

\n

\n $4.00<\/span>\n <\/p>\n<\/td>\n

\n

\n $5.42<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

FIs highlight fraud<\/span> vulnerabilities at every stage of the customer journey. Among US financial services firms, 30% of fraud<\/span> is found at new account creation, 31% occurring within transaction activity and 39% during account login or access.<\/p>\n

Many organizations fail to track fraud<\/span> comprehensively, leading to underestimated losses. Only 45% of FIs track fraud<\/span> across both payment methods and transaction channels. Another 25% track it only across transaction channels, while 28% focus solely on payment methods.<\/p>\n

Nearly half of FIs (44%) rely mostly or entirely on manual processes, while only 20% are mostly or fully automated. As fraud<\/span> becomes more advanced, FIs that avoid modernizing with automation and AI risk falling behind in prevention and customer protection.<\/p>\n

\n “Fraud<\/span> is a dynamic, escalating threat that touches every corner of an FI’s operations. However, FIs don’t need simply accept it as a cost of doing business,”\u00a0<\/i>
\n said Kimberly Sutherland<\/span>, global head of fraud<\/span> and identity at LexisNexis Risk Solutions<\/b>. “Our latest study reveals that as fraud<\/span> losses climb, many organizations still depend on manual processes that fail to match today’s sophisticated attacks. Leading FIs with the lowest fraud<\/span> costs adopt automation, AI and cross-channel visibility to detect more fraud<\/span> faster through a multi-layered approach. Importantly, they attain this while preserving the experience for genuine customers.”<\/i><\/p>\n

\n Key Findings from the True Cost of Fraud<\/span>\u2122 Study 2025 North America:<\/b>\n <\/p>\n