Report Details Trends in Retail Fraud; Mobile Fraud to Increase
Mobile fraud is a challenge for merchants, and will only intensify, according to the 2016 LexisNexis True Cost of Fraud Study.
The study found that fraud cost as a percentage of revenues is higher among mCommerce merchants; there is greater concern about the security of allowing mobile transactions; and, there is a significantly high number of lost transactions per month to fraud through mCommerce. All of this will intensity as the mCommerce channel is expected to grow during the next 1 -2 years. While less than one-fifth currently optimize for mobile transactions, a sizeable portion (32%) report considering it in the next 12 months.