LexisNexis (LN) recently released its Financial Services & Lending focused 2020 True Cost of Fraud Study, which points to fraud trends that will significantly impact banks/credit unions, investment firms, and lending institutions in the months and years ahead.
It was last year that I heard a prominent loss prevention professional - a name that many in the industry would instantly recognize as a keynote speaker at conferences and seminars - say to me: "You can't expect your cashiers to be able to prevent fraud from occuring in your stores." Or something along those lines. The conversation occured at the FraudFighter booth at the NRF Loss Prevention show in June of last year, so I may not remember the exact words he used. But the general gist of the comment was the same.