On April 2, 2025, LexisNexis® Risk Solutions released its fifteenth annual LexisNexis® True Cost of Fraud™ Study: Ecommerce and Retail Report – US and Canada Edition. The study revealed that fraud costs remain a growing challenge for businesses in North America.
US merchants incurred an average cost of $4.61 for every $1 of fraud, while Canadian merchants faced $4.52. Mobile transactions, including digital wallets and peer-to-peer payments, accounted for 33% of ecommerce fraud expenses in the US and 41% in Canada.
The report also highlighted that 41% of North American merchants still rely on manual processes to prevent fraud, indicating a widespread dependence on outdated methods. Maanas Godugunur, senior director of fraud and identity at LexisNexis Risk Solutions, emphasized the need for AI-powered fraud detection and a multi-layered approach to stay ahead of fraudsters.
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