The Latest Credit Card Frauds
In today’s world, credit card fraud is a big problem. These crimes are affecting both the country and the world, and you should be aware of the latest credit card frauds to keep yourself safe. Here are some recent statistics:
The biggest victims of these crimes are millennials. They comprise nearly half of the population in the United States. But many of these criminals originate overseas, notably from West Africa and Eastern Europe. Experts estimate that there are around two million people around the world who steal credit cards. It isn’t clear how many of these thieves are actually from the U.S., but the threat is real and increasing. It is important to know that identity theft and credit card fraud are not going away.
One type of credit card fraud is known as remote fraud. The fraudsters don’t need to physically access the credit card to perpetrate the crime. In 2015, the total value of remote card fraud was $3.4 billion. It went up to $4.57 billion in 2016, and there were more than 50,000 reported fraudulent activities last year. In fact, this kind of fraud is one of the fastest-growing forms of identity theft. This article explores the latest credit card frauds to protect your personal data.
Identity theft is another type of credit card fraud. Identity thieves steal credit card numbers from unsuspecting victims. They lure them to fraudulent websites using their victim’s credit card information and use the card to make purchases in their own name. These crimes affect hundreds of millions of people. You should be extra vigilant when using your credit card online. It’s best to avoid giving out your card number to strangers on the phone. You never know when you’ll get scammed.
If you’ve been the victim of a credit card scam, you’ve probably noticed suspicious activity on your bank statements. If you’re concerned, you should contact the credit card company, police, and credit bureaus to stop the fraudulent activity. In the meantime, you should cancel your current credit cards and wait for new ones to arrive in the mail. Once you’ve canceled your current cards, swap the new ones into your old account. You’ll need to be careful about phishing scams too. These schemes are becoming more sophisticated.
According to the USSC, about 18% of reported fraud cases involved elderly people. This is estimated to amount to $290 million by 2020. Be vigilant when making online purchases or answering the phone. Fraud victims may have to deal with a tarnished credit score and inaccurate credit reports. Moreover, you might have to put extra security measures on your credit cards to prevent future thefts. These types of crimes also cost you money.
A recent survey indicates that more than one in four people has experienced credit card fraud over the past six months, and more than six percent of them have experienced fraud in the last two years. An average of $62 was lost by victims, but one in five have been scammed for $300 or more. The latest credit card fraud statistics are alarming. Don’t fall victim to these scams! And don’t be fooled by the “free” tag - it’s just another scam!