"The safest way to double your money is to fold it over and put it in your pocket." -Kin Hubbard, early 20th Century cartoonist
According to the 2016 LexisNexis True Cost of Fraud Study, US merchants reported an 8% increase over 2015 in the cost per dollar of fraud losses. For every dollar of losses, merchants are losing $2.40 based on chargebacks, fees and merchandise replacement. In real world terms, that means:
If a $100 online transaction turns out to be fraudulent, your actual loss would be $340 total ($100 transaction loss + $240 in other costs and losses).
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