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By Verisk: Fraud Risks Lingering Within Your Portfolio - Insights and Trends for Card Issuers
Global payment card fraud losses reached a staggering $32.4 billion in 2020. This figure is expected to increase to $40.6 billion by 2027, growing by 25% in less than a decade . The US holds a disproportionate share of global card fraud due to the US card market scale compared to others. However, this does not fully account for the difference. Other countries have similar or higher credit-card penetration rates, yet have fraud rates significantly below those of the US. As a result, the US alone consistently accounts for more than one-third of the total global loss. Learn more about the fraud risk, insights and trends for Card Issuers in this thought leadership piece.