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Galileo White Paper

Payments Card Fraud: Death by a Thousand Cuts

Although all participants in the payments card value chain are adversely affected by card fraud, issuers—which absorb 70.7 percent of gross global fraud losses—are particularly hard hit. Not only do card fraud losses take a dollar-fordollar toll on bottom line profitability, card fraud blights the customer experience—undermining consumers’ trust and collectively costing issuers millions annually in lost business.
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