A report by lobal data and analytics company LexisNexis® Risk Solutions found that Australia, Hong Kong, Japan and India recorded higher losses per transaction due to fraud compared to its Asia Pacific (APAC) counterparts. It showed that the cost per transaction is US$3.51 in Australia; US$3.61 in Hong Kong, US$3.87 in Japan and US$3.84 in India, the total amount of loss a firm occurs based on the actual U.S. dollar value of a fraudulent transaction. All four countries reported higher costs per transaction than the regional 2019 average that involved other APAC markets at US$3.40. A combination of factors is driving the high cost of fraud, including market events influencing the use of transaction channels/payment methods, the challenges that businesses face when assessing fraud.