SmartMetric, the Developer of the Biometric Secured Credit Card, Says the Continued Blow Out in the Cost of Fraud for United States Merchants, Now Estimated at More Than $39 Billion, Is Unsustainable

NEW YORK, December 27, 2021 –( BUSINESS WIRE )–SmartMetric, Inc. (OTCQB: SMME): The LexisNexis cost of fraud report for 2021 has shown a significant increase since just before COVID-19. Every $1 of fraud costs U.S. merchants $3.60 compared to $3.13 in the pre-COVID time period (+15.0%). The significant percent of identity-related fraud continues to be at the point of sale. 1

According to the Merchant Risk Council estimates that by the end of 2020, the US saw $11 Billion in credit card fraud losses. The US is responsible for one-third of the world’s credit card fraud, and 2020 saw […]

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