Sentence examples for cost of fraud from inspiring English sources
The estimated cost of fraud from organised gangs has reached nearly £9bn a year.
The compromise announced Monday also would direct the Fed to consider the cost of fraud.
And a recent report from the accounting firm Grant Thornton estimated that, by 2025, the cost of fraud in the industry worldwide will have reached $1.5 trillion.
The cost of fraud committed on UK cards used abroad dropped by 45% over the same period, while fraud in the UK fell by 9%.
The cost of fraud to the British economy could be at least £20bn a year - equivalent to the government's entire transport budget - a report revealed yesterday.
"As long as UK banks don't have to bear the cost of fraud, they won't have an incentive to improve their security," he says.
The economic friction imposed by card transactions (plus the associated costs of fraud and fraud-prevention) mean that the sheer scale of the internet cannot yet be harnessed.
Since European credit-card companies are responsible for paying most of the costs of fraud, they have a significant incentive to reduce it.
The banks and the card networks have defended themselves for years, saying that the fees, in part, help to cover the costs of fraud.
Because of the intangible costs of fraud, the expense of investigating such conduct, and the need to deter others who might be similarly tempted ordinarily double assessment, in lieu of damages, and a significant civil penalty should be imposed.
