[jonathanlydall]

Banks don’t really eat the loss, instead they ensure all their services have enough of a markup to cover the cost of fraud.

All consumers collectively pay for all the fraud, it’s just that we don’t tend to realize it as it’s not a specific line item on any of our bills, instead we all pay just a little more than we should for everything we buy.

[throawayonthe]

yes, obviously all of the bank's money comes from consumers. what other scenario do you see where a bank(etc) "eats the loss" but the money somehow comes from somewhere else

[jonathanlydall]

While it may be obvious to you that your fees include covering all the banks losses to fraud, I think that most people assume the bank makes less profit or something due to such incidents, when the truth is they just raise their prices to maintain profits.

[SkiFire13]

I don't see the difference between the two TBH.

[themafia]

If the rate of fraud reduced bonus payments to executives.