Small and Midsize Business Lending Fraud on the Rise, According to New LexisNexis Risk Solutions Study

SMB Lending Fraud Is Increasing at a Significantly Faster Pace Compared to the Last Two Years, up 14.5% Year-Over-Year

ATLANTA, May 3, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions released its latest Small and Midsize Business (SMB) Lending Fraud Study. Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and fintechs expecting fraud levels to worsen over the next year. Overall, 84% of respondents said that SMB lending fraud has increased at an average of 14.5% year-over-year (2021 to 2022), a significant increase from the 6.9% increase experienced the year prior.

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