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Fraud Hits U.S. Large Digital Lenders the Hardest in Broader Lending Space, According to LexisNexis® Risk Solutions True Cost of Fraud Study

Fraud Hits U.S. Large Digital Lenders the Hardest in Broader Lending Space, According to LexisNexis® Risk Solutions True Cost of Fraud Study

The study shows that lenders face higher costs of fraud than other industries, including retail, e-commerce and financial services. For every dollar of fraud, lending companies incur $2.82 in costs, which includes fees, interest, etc., according to the LexisNexis Risk Solutions Fraud Multiplier. Large digital lenders, with over $50 million in annual revenue, are hit hardest by fraud in this space.

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