Survey: Average company losing $90 million to mobile fraud

The average company loses $92.3 million a year to mobile fraud, according to a new survey of 250 companies from across a wide spectrum of industry verticals.

The average revenues of the companies in the survey was $2.5 billion, meaning that the mobile losses accounted for more than 3 percent of revenues.

In addition, some organizations reported that they lost as much as 25 percent of revenues to mobile fraud.

Retailers were the single biggest group of companies surveyed, followed by computer software firms, banking and financial services, computer services, healthcare, and other industry verticals.

The fraud typically came in such forms as purchases made with stolen credit cards, theft of money from online banking accounts, redeeming frequent flier miles for gift cards on hospitality and travel sites, and fake prescriptions ordered through health websites, said Angel Grant, senior manager of fraud risk and intelligence at RSA, the security division of EMC and one of the sponsors of the study.

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