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Statistics, Facts & Such

Law Enforcement Agencies estimate between $100 billion to $300 billion of illegal proceeds (mostly from the drug trade) are laundered each year through the U.S. financial system.

There are approximately 777,000 merchants making cash and check transactions that could be utilizing point-of-sale technology.

Major ATM networks report one out of 5 debit transactions are at point of sale terminals on the west coast of the United States, while only one of 18 are point of sale transactions on the east coast.

People who ride in taxi cabs pay about $7 billion in fares each year. It is estimated there could be $1 billion of that business transacted through a cellular credit card system.

There are currently 11 million cellular phone users in the United States.

"Home shoppers" account for only between 1% and 2% of the shopping population.

Automobile insurance fraud now costs about $8 billion annually. It is anticipated that new anti-fraud programs can reduce those losses by $2 billion.

Forty-three percent (43%) of security officers who have budgets for equipment for the next two years have decided on black and white CCTV equipment. Only 10% plan to buy color cameras.

Lottery sales are up. 14 states and the District of Columbia play "Powerball", the country's largest lottery. Sales in 1992 exceeded $500 million. Sales to date in 1993 are already over $700 million.

Bank certificates of deposit were down 18% in 1992-a loss of $191 billion. However, passbook and money market accounts grew by $158 billion, an increase of 15%.

Copyright © 1993 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 4, No. 4, 9/93

First published on 09/01/1993

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