Safeguard your organization against new instances of fraud with LexisNexis® Fraud Detection and Prevention solutions delivering real-time fraud detection to mitigate risk, reduce manual reviews and streamline order management.
Our solutions can help you reduce fraud risk by quickly and intelligently analyzing billions of records on businesses and individuals to uncover relevant information for better informed decision-making. In addition to extensive residential profiles, assets and derogatory histories, our solutions leverage the power of our proprietary algorithms and scoring capabilities to identify fraud patterns.
Leverage powerful identity verification and authentication tools to instantly verify that an identity exists, confirm key profile information including age, and authenticate ownership of the identity by an individual or business.
- LexisNexis® 2011 True Cost of Fraud Study
Retail fraud continues to be a $100+ billion problem burdening merchants. To help businesses more effectively battle this issue, LexisNexis® Risk Solutions retained Javelin Strategy & Research conduct this third annual study on US retail merchant fraud.
This landmark study includes research of unprecedented scope conducted with over 1,000 merchants, financial institution executives and over 5,000 consumers. No study has so comprehensively assessed the costly nature of criminal methods, industry solutions and merchant needs across channels, company size, payment methods and industry segments.
Among many in-depth findings of the 2011 study: continuing the downward trend from last year, total merchant fraud losses declined year over year but they continue to be a $100+ billion problem. However, fraud rates could be poised for an upswing. From the merchant's perspective, although the number of fraudulent transactions went down this year, the nature of transactions is trending to be more severe - the average dollar value of a completed fraudulent transaction is higher this year than what was reported last year. Top issues for US merchants who ship internationally - delay in payment confirmation, verification of customer identity, limited jurisdiction, and ability to reclaim merchandise and costs. International merchants also say they are more vulnerable to "friendly" fraud than domestic-only retailers
This report is structured to help merchants benchmark and improve their efforts in the costly battle against fraud.
Next Steps
To learn more about our Fraud Detection & Prevention solutions or to receive pricing information, please call us at 800.869.0751 or use our contact form.
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