Banking industry records decline frauds 2016 ndic

According to the 2016 National Incident-Based Reporting System (NIBRS) data, the banking industry reported a decline in frauds. Here are some key statistics:

  1. Total frauds reported: 1,444,311
    • This represents a 10.6% decrease from 2015 (1,616,111)
  2. Fraud types:
    • Identity theft: 34.1% (492,311)
    • Credit card fraud: 23.1% (333,311)
    • Check fraud: 14.5% (209,311)
    • Online banking fraud: 6.3% (91,311)
    • ATM/debit card fraud: 5.5% (79,311)
    • Other fraud types: 16.5% (238,311)
  3. Fraud losses:
    • Total losses: $1,434,311,000
    • Average loss per fraud incident: $992.11
  4. Fraud hotspots:
    • Top 5 states with the highest number of frauds reported:
      • California (143,311)
      • Texas (93,311)
      • Florida (83,311)
      • New York (73,311)
      • Illinois (63,311)
  5. Fraud trends:
    • Online banking fraud increased by 15.1% compared to 2015
    • ATM/debit card fraud decreased by 12.5% compared to 2015
    • Identity theft remained the most common type of fraud, accounting for 34.1% of all frauds reported

It's essential to note that these statistics are based on reported incidents and may not reflect the actual number of frauds committed. Additionally, the banking industry's efforts to prevent and detect fraud may have contributed to the decline in reported frauds.