Business
Every Dollar Lost to Fraud Costs North America's Financial Institutions $5, According to LexisNexis Risk Solutions
Fraud is widespread, hard to measure and difficult to prevent, according to the LexisNexis® True Cost of Fraud™ Study 2025 North America. As costs hit record highs, the eighth annual LexisNexis® 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.
About this update from Relx Plc
[{"type":"text","content":"Nearly Half of US and Canada FIs Still Rely on Manual Tools While Bots and Scams Surge","length":86,"tagName":"p","attribs":{}},{"type":"text","content":"ATLANTA, Sept. 10, 2025 /PRNewswire/ -- Fraud is widespread, hard to measure and difficult to prevent, according to the LexisNexis® True Cost of Fraud™ Study 2025 North America. As costs hit record highs, the eighth annual LexisNexis® 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.","length":417,"tagName":"p"},{"type":"image","alt":"LexisNexis Risk Solutions (PRNewsfoto/LexisNexis Risk Solutions)","displaySize":"","headline":null,"caption":"LexisNexis Risk Solutions (PRNewsfoto/LexisNexis Risk Solutions)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":121,"url":"https://media.zenfs.com/en/prnewswire.com/c035f712158d26432ba6691cd9a98ab2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/8jONPCFgULPaRhQtAFkduw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIxMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/c035f712158d26432ba6691cd9a98ab2","width":400,"height":121}},"href":"https://mma.prnewswire.com/media/494562/LexisNexis_Risk_Solutions_Logo_2025.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The LexisNexis Fraud Multiplier™ shows fraud's growing impact on operations, compliance, reputation and customer trust. Since 2021, it has increased across all financial services segments in North America, now averaging more than $5 for every $1 lost to fraud, up 25% from $4.00 only four years ago.","length":303,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:MIDDLE;","val":[{"type":"text","content":"Type of FI","length":10,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":"2021 Cost per$1.00 Fraud Loss","length":30,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":"2025 Cost per$1.00 Fraud Loss","length":30,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1"...