TechUnauthorized-party fraud reportedly accounts for 71% of incidents and dollar losses
PYMNTS Intelligence says the share rose from 48% a year earlier. The category covers transactions initiated by someone other than the account holder.
TLDR
PYMNTS reports that unauthorized-party fraud—cases where someone other than the account holder initiates a transaction—accounted for 71% of fraud incidents and dollar losses, up from 48% a year earlier.
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Unauthorized-party fraud reportedly accounts for 71% of incidents and dollar losses
PYMNTS Intelligence says the share rose from 48% a year earlier. The category covers transactions initiated by someone other than the account holder.
TLDR
PYMNTS reports that unauthorized-party fraud—cases where someone other than the account holder initiates a transaction—accounted for 71% of fraud incidents and dollar losses, up from 48% a year earlier.