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First-Party Fraud and the Hidden Drain on Revenues

FICO

In my personal experience, first-party fraud typically comprises around 10% of the volume of credit losses (also known as bad debt) but, alarmingly, more than 20% of the value. Traditional third-party fraud entails some form of impersonation, whether through stolen card credentials or someone taking over your identity.

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What Is First-Party Fraud?

FICO

In my personal experience, first-party fraud typically comprises around 10% of the volume of credit losses (also known as bad debt) but, alarmingly, more than 20% of the value. Traditional third-party fraud entails some form of impersonation or stolen identity, whether through stolen card credentials or someone taking over your identity.