2017 Fraud Mitigation Study
Examining Cross-Industry Fraud Trends
Fraud is prolific and costly. Nearly every sector—from banking to health care to insurance to government—is grappling with the fraud problem in some way, to the collective tune of hundreds of billions of dollars annually in the U.S. alone. LexisNexis Risk Solutions commissioned its annual Fraud Mitigation Study to better understand fraud trends – particularly related to fraud that touches multiple industries.
Findings from the survey of 800 fraud mitigation professionals from insurance, financial services, retail, government, health care and communications showed that cross-industry fraud remains prevalent and costly, and the vast majority of fraud mitigation professionals are using data and analytics solutions more frequently in their fraud detection programs. This year’s study additionally looked at trends related to identity fraud, which was identified as a growing concern as more transactions have been moving online.