That's effectively the same thing as zero fraud for anything that matters, if you never have to pay for it, no?

I mean, I guess if someone fraudulently signed up for a subscription, you'd lose the future expected monthly subscription fees or whatever.

But it's pretty much good enough. When I saw "zero fraud" advertised, my immediate assumption was that they paid for any fraud, and they were confident they had fraud low enough to do that and still be profitable. No other way to get truly "zero".