GITNUX MARKETDATA REPORT 2024

Check Fraud Statistics: Market Report & Data

Statistic 1

"In 2018, the total loss for banks due to check fraud was $1.3 billion."

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Statistic 2

"Check fraud is growing by 25% per year."

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Statistic 3

"In 2020, 47% of American organizations were subjected to check fraud attempts."

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Statistic 4

"Approximately 75% of companies experienced check fraud in 2016."

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Statistic 5

"$615 million was the average loss due to check fraud for financial institutions in the US in 2016."

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Statistic 6

"35% of check fraud offenses between 2012 and 2016 involved more than one check."

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Statistic 7

"Counterfeit checks accounted for 47% of the 2018 check fraud losses."

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Statistic 8

"Small businesses are twice as likely to become check fraud victims."

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Statistic 9

"80% of banks reported counterfeit checks as a method of check fraud."

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Statistic 10

"Unauthorized transaction checks account for 30% of check fraud."

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Statistic 11

"In 2020, 74% of organizations reported being targeted by phishing scams, usually a prelude to check fraud."

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Statistic 12

"Check tampering is a concern for 93% of US organizations."

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Statistic 13

"Lost and stolen checks accounted for 14% of the check fraud losses in 2018."

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Statistic 14

"Check fraud schemes using mobile deposit capture doubled from 2018 to 2019."

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Statistic 15

"The annual check fraud attempt rate in the US is 6%."

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Statistic 16

"In 2018, 91% of the organizations that experienced actual or attempted payments fraud were victims of check fraud."

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