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US Card Fraud Losses Could Exceed $12Bn By 2020

October 27, 2016

Via: Forbes

Fraud losses incurred by banks and merchants on all credit, debit, and pre-paid general purpose and private label payment cards issued globally hit $21.84 billion (bn) in 2015, with the United States (US) accounting for almost two-fifths (38.7%) of the total at $8.45bn. But by 2020 it could surpass $12bn, were the global percentage growth rate of 45% to be mirrored.

2015 was a year when global card volume, which includes purchases of goods and services combined with cash advances and withdrawals, totaled a whopping $31.310 trillion (trn).

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