Survey puts average mobile fraud loss per company at $92.3 million

New York -- Companies are losing as much as 25% of online revenues an average per respondent of $92.3 million per year – to mobile fraud, according to a study by RSA and TeleSign, a provider of mobile identity verification solutions. Nearly one-third of organizations lost as much as 10% and up to 25% of revenues due to mobile fraud.



Only 8% of the surveyed companies indicated that they had no loss due to fraudulent activity in the past 12 months. Thirty-four percent indicated they had lost as much as 5% of revenues; 14% indicated losing as much as 10% of revenues; and 15% indicated losing as much as 25% of revenues.



In other results:



• Nineteen percent of companies indicate that 25% to 49% of their fraud incidents are due to mobile.



• Although about two-thirds of survey respondents believe they can quickly detect and remediate Internet and mobile fraud on their sites, a large number of fraud incidents causing significant revenue are occurring.



• Nearly 50% favor biometric access as a requirement and a majority are forecasting substantial efforts to implement advanced mechanisms like biometrics, phone-based authentication and soft tokens over the next two to three years.