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Old 02-21-2012, 06:50 AM
jook.woo jook.woo is offline
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Join Date: Nov 2011
Posts: 544
Default How Much Does Fraud Cost Credit Card Companies
I met this from 2004:

The credit card losses of about $2 billion and every year because of the global credit card fraud.

Visa and mastercard didn't disclose exact dollars worth of how much, they lose the fraud, but they don't admit it is about 7 cents for every $100 deal.

Now in 2008, their income number is:
Visa = $630 million dollars
Mastercard = $480 million
American express = $340 million dollars
Explore = $260 million dollars
- - - - - - - - - -
Total: 17.1 billion dollars

I don't know how they fully comply with fraud and who eat of losses, but if the above 4, this is a part of their high income. Us $2 billion (' 04) out of an income of $1.71 billion (' 08). But because the number of fraud from '04 now it will even higher. If we want to answer as many credit card fraud cost of the industry, it looks like, probably is its income between 10% and 15% of a certain place. I a quick computation, in the park?
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