Fraud has escalated this year to nearly $22 billion in losses globally. In other words, for every $100 spent, 6.97 cents was fraudulent, compared to 6.21 cents the year before. The Nilson Report, the top newsletter covering the payment industries, put together the specific fraud metrics.
According to their report, if the global fraud rate was a pie, the US has the largest slice. The United States alone accounted for nearly 40 percent of the gross fraud losses, even though they only generated 22.9 percent of global purchase volume. Simply put, for every $100 spent in the US last year, 11.76 cents was fraudulent.