Fraudulent transactions: Mexico and Brazil rank in the first two places in Latin America

Mexico and Brazil rank in the first two places in Latin America with the highest average cost of fraudulent transactions, according to the Latin America Report on the True Cost of Fraud. Next on Latin America Screening News.

The Lexis Nexis report on Latin America indicates that the reported monthly average of fraudulent transactions for each of the 450 companies in the region surveyed was $598 dollars and the average cost of these successful fraudulent transactions was $561 dollars.

The average cost of each fraud in dollars, was higher in Brazil with $781 followed by Mexico with $571. The Latin America financial system was the most affected in terms of the average of successful fraudulent transactions ($815 dollars) as well as the average amount of loss of these criminals’ acts, which reaches $805 dollars.

To mitigate the incident of this type of crime, it is suggested that companies seek external providers with deep data and analytical resources that allow them to face the challenges of fraud bases on identity theft.