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Report: Lending fraud increasing with increased digital channels
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Banking, Consumer Protection, Financial Stability, Nonbank Financial
Friday, January 21, 2022
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A LexisNexis study found current market conditions with its rapidly changing dynamics are giving fraudsters more opportunities to strike.
Small and mid-sized businesses are particularly vulnerable to attacks, especially those that operate heavily through digital channels. Fraud losses as a percentage of revenue have increased an average of 28.6 percent year-over-year.
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