“LexisNexis® Risk Solutions today released the findings of its 2022 LexisNexis® True Cost of Fraud™ Study: Financial Services and Lending. This sixth edition of the report examines current fraud trends for more than 500 United States and Canadian financial services and lending companies and highlights key pain points related to the addition of new payment mechanisms, online and mobile channel transactions and international expansion. The survey was conducted between May and July 2022. U.S. and Canadian financial services firms’ fraud costs continue to rise. Every $1 lost to fraud now costs U.S. financial services firms $4.23 compared to $3.64 in 2020, a 16.2% increase. The cost for Canadian financial services firms rose 19.6%, from $3.16 in 2020 to $3.78 in 2022.”

“LexisNexis® Risk Solutions, part of RELX, has announced the acquisition of BehavioSec®, an advanced behavioral biometrics technology provider. Founded in Sweden in 2008 with a presence in the U.S., Canada and EMEA, BehavioSec provides a highly predictive behavioral biometrics solution that uses behavior analysis for continuous authentication to establish identity trust and help prevent fraud. Solutions from BehavioSec will become a part of the Business Services group within LexisNexis Risk Solutions and enhance its device and digital identity-focused offerings, such as LexisNexis® ThreatMetrix®….Behavioral biometrics is becoming a widely adopted tool by industries such as financial services, ecommerce, technology, insurance, health care, communications, mobile and media companies and government agencies to prevent new account opening fraud, account takeover and scams, amongst other use cases.”