On September 10, 2025, LexisNexis® Risk Solutions released its eighth annual LexisNexis® True Cost of Fraud™ Study 2025 North America. The report revealed that fraud costs for North American financial institutions (FIs) average more than $5 for every $1 lost to fraud, a 25% increase from $4.00 four years ago.
The study highlighted that 44% of North American FIs primarily rely on manual processes, indicating a hesitation to fully embrace automation and AI to combat increasingly sophisticated fraud. Among US financial services firms, 30% of fraud is found at new account creation, 31% during transaction activity, and 39% during account login or access.
Kimberly Sutherland, global head of fraud and identity at LexisNexis Risk Solutions, stated that leading FIs with the lowest fraud costs adopt automation, AI, and cross-channel visibility through a multi-layered approach. This allows them to detect more fraud faster while preserving the experience for genuine customers, underscoring the need for modernization.
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