The latest data reveal that criminals aren’t giving up on card theft; they are just changing their tactics. This post provides a snapshot of recent credit card fraud statistics so that you can stay informed.
Twenty hours of Internet searching sparked an idea that led to one fraudster stealing $6,000 from local stores and causing numerous customers to be stuck with useless gift cards they had legitimately purchased or received as gifts.
So EMV cards have had a dramatic effect on reducing credit card fraud in the United States. But are there any downsides to the adoption of credit card chip technology?
In 2015, $78 million in counterfeit currency was passed in the United States, according to a report by the US Secret Service. Nearly 7o percent of that $78 million was created with the use of digital printing technologies.
Employees should be taught the signs of customer who uses a stolen credit card. Credit card fraud detection signs may include the red flags listed in this post.
Fighting digital commerce fraud is an unrelenting challenge for all merchants that do business online. To put it bluntly, it's revenue protection.
According to online statistics database Statista, the value of payment fraud losses in the United States rose from $5.6 billion in 2012 to an estimated $9.1 billion in 2018.
Because the retail industry relies so heavily on credit transactions, it is particularly affected by credit card fraud scams.
The trade in counterfeit merchandise globally is getting worse, and US retailers are being hit the hardest, according to a 2017 report from the...
A study by the Government Accountability Office, released in January, observes a shift in sale of counterfeit goods from "underground" or secondary markets, such...