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Loyalty fraud is not new, but it is increasing
According to the Loyalty Security Alliance, 17.6% of survey respondents said loyalty fraud grew “a lot” in the last three years, while 23.5% said it grew “somewhat.” And according to Statista, 27% of all fraud attempts experienced by online merchants in 2021 were loyalty fraud.
Loyalty fraud can be lucrative because these accounts are typically less secure than financial accounts and fraudulent activity may go....
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