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.
2015 LexisNexis® True Cost of Fraud℠
Our annual LexisNexis® True Cost of Fraud℠ study offers important insights into the profound effects of fraud on merchants, consumers and financial institutions. It establishes the actual cost of fraud as witnessed by merchants and provides key findings and specific recommendations for the industry. 2015 is an especially demoralizing year for merchants as fraud consumes even more revenue.
All merchant segments are losing more revenue to fraud this year and, in the face of these losses, more merchants believe that the additional costs of mitigation are prohibitive. The upward trend of fraud losses as a portion of revenue for all merchants continues in 2015 at 1.32%, up from 0.68% in 2014. While all merchant segments took a substantial hit on fraud losses as a percentage of revenue, international and mCommerce merchants were hardest hit with 1.56% and 1.68% loss, respectively.
Merchants prevented more transactions overall, but online and Mail Order/Telephone Order (MOTO) transactions provide considerably more challenging. While merchants prevented more fraudulent transactions overall in the past year, merchants find it up to 7x more difficult to prevent transactions through remote channels compared to in-person.