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Lending industry faces higher fraud costs than e-commerce, retail and financial services

Lending industry faces higher fraud costs than e-commerce, retail and financial services

For every dollar of fraud, lending companies incur $2.82 in costs, which includes fees, interest, etc., according to LexisNexis Risk Solutions. Large digital lenders, with over $50 million in annual revenue, are hit hardest by fraud in this space.

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