7th Annual LexisNexis^® True Cost of Fraud^™ Study: Financial Services and Lending Report

The cost of fraud is more than the actual dollar value of a fraudulent transaction. It also includes additional costs related to labor/investigation, fees incurred during the applications/ underwriting/processing stages, legal fees and external recovery expenses. Therefore, the total cost of fraud is expressed by saying that for every $1 of lost value due to fraud, the actual cost is higher based on a multiplier representing these additional costs. § For a common base of comparison between the U.S. and Canada, all currency is in USD.