PR Newswire
According to a LexisNexis Risk Solutions Study, Digital Channels See Biggest Increase in SMB Lending Fraud
ATLANTA, Sept. 5, 2024 /PRNewswire/ -- Small and medium-sized business (SMB) lending fraud has increased by a double-digit percentage year over year, with most lenders expecting fraud levels to continue to increase in the coming months, as revealed by the latest edition of the LexisNexis® Risk Solutions Small and Midsize Business Lending Fraud Study. Overall, more than 80% of respondents said that SMB lending fraud has risen by nearly 14% over the last year, even as lenders are less willing to issue new credit.
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