Credit, debit card fraud losses reached $21.84 billion last year

“Fraud losses incurred by banks and merchants on all credit, debit and prepaid general-purpose and private-label payment cards issued worldwide reached $21.84 billion last year when global card volume totaled $31.31 trillion, according to The Nilson Report.

In a press release, The Nilson Report said this means that, for every $100 in volume, 6.97 cents was fraudulent, up from 6.21 cents per $100 in 2014. Fraud, which grew by 20.6 percent, outpaced volume, which grew by 7.3 percent.”

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