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Projections indicate that global card fraud losses are expected to reach $40.53 billion by 2027, with e-commerce businesses alone anticipated to incur an estimated $48 billion in losses to online payment fraud in 2023. 03 July E-Commerce on social media and Fraud Prevention. 15 September $500 Billion Problem Seeking for a Solution.
Projections indicate that global card fraud losses are expected to reach $40.53 billion by 2027, with e-commerce businesses alone anticipated to incur an estimated $48 billion in losses to online payment fraud in 2023. 03 July E-Commerce on social media and Fraud Prevention. 15 September $500 Billion Problem Seeking for a Solution.
Of course, financial criminal activity doesn’t have to just lead to monetaryloss—it could also lead to a data breach of customer information. Introduce the customer identification program (CIP) Basically, the CIP requires that companies get four pieces of identifying information about their client for identity verification.
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