Debit card fraud losses rise 13.1% in two years in the US, report shows

federal reserve
Fed released a report on debit cards transactions

Fraud losses to all parties of debit card transactions in the United States totalled roughly $1.57 billion in 2013 – an increase of 13.1% from 2011 that the Federal Reserve attributes "mostly" to the growth in the value of the payments being made during the period.

Indeed, while the headline number of losses rose by a significant amount, fraud losses as a share of transaction value only increased from 7.8 to eight basis points. This equates to a loss of around 3.1 cents per transaction, a margin

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