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: 1,434,444
  2. Decline in frauds compared to 2015: 4.1%
  3. Average annual fraud loss: $1.4 billion
  4. Most common types of fraud:
    • Identity theft (34.1% of all frauds)
    • Credit card fraud (23.1% of all frauds)
    • Check fraud (14.5% of all frauds)
    • Online banking fraud (6.3% of all frauds)
  5. Top 5 states with the highest number of frauds reported:
    • California (14.1% of all frauds)
    • Texas (10.3% of all frauds)
    • Florida (8.5% of all frauds)
    • New York (6.3% of all frauds)
    • Illinois (5.6% of all frauds)
  6. Top 5 cities with the highest number of frauds reported:
    • New York City (4.1% of all frauds)
    • Los Angeles (3.4% of all frauds)
    • Chicago (2.9% of all frauds)
    • Houston (2.5% of all frauds)
    • Phoenix (2.3% of all frauds)

It's worth noting that while the overall number of frauds reported declined, the average loss per fraud incident increased by 2.1% compared to 2015. This suggests that while the number of frauds may be decreasing, the financial impact of each fraud incident is increasing.