According to the results of a new study from LexisNexis, m-commerce and large ecommerce merchants lost 1.68% and 1.39% of their revenue respectively to fraud in 2015. For large ecommerce merchants, that represents a 64% increase from 2014 and for m-commerce merchants, revenue lost in 2015 rose 24%.
The manual review process continues to drive costs, despite a boost in the use of automated systems to identify potentially fraudulent transactions. Nearly half of transactions flagged using automated systems are still submitted for manual review, the report found. And, the process generally hogs about a quarter of the budget allocated to fraud prevention.
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