Every Dollar Lost to Fraud Costs North America's Financial Institutions $5, According to LexisNexis Risk Solutions

Core Insights - Fraud remains a significant issue in North America, with a notable reliance on manual tools among financial institutions despite the increasing prevalence of bots and scams [1] Group 1: Fraud Landscape - The LexisNexis® True Cost of Fraud™ Study 2025 highlights that fraud is widespread, challenging to quantify, and difficult to prevent [1] - Nearly half of financial institutions in the US and Canada continue to depend on manual tools for fraud detection and prevention [1] Group 2: Technological Challenges - The surge in automated fraud methods, such as bots, poses a growing threat to financial institutions that are not leveraging advanced technology [1] - The study indicates a pressing need for financial institutions to adopt more sophisticated tools to combat the rising tide of fraud [1]