Federal Reserve Payments Study finds U.S. payments fraud a small but growing fraction of overall payments

Federal Reserve Payments Study finds U.S. payments fraud a small but growing fraction of overall payments

Federal Reserve Payments Study finds U.S. payments fraud a small but growing fraction of overall payments

Release Date: October 16, 2018

The value of fraudulent non-cash payments in the United States rose significantly between 2012 and 2015—outpacing growth in non-cash payments overall, according to a new report based on Federal Reserve Payments Study data. The study's survey of depository institutions found that the value of non-cash payments fraud rose 37 percent from $6.1 billion in 2012 to $8.3 billion in 2015. Over the same period, the total value of non-cash payments rose 12 percent from $161.2 trillion to $180.3 trillion.

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