10 Credit Card Fraud Facts That Have Consumers Fuming
A recent survey by Atlas VPN shows Americans are more fearful of identity theft and credit card fraud than of being burglarized.
- Murder: 20%
- Terrorism: 29%
- Burglary: 43%
- Identity Theft/Card Fraud: 67%
And who do they blame for their fears? The credit card companies!
Here’s 10 Reasons Why
10: 4.8 million identity theft and credit card fraud reports were submitted to the FTC in 2020. The resulting losses… $4.5 Billion!
9: Stolen PII cost state and federal government agencies an estimated $200-$500 billion in losses.
8: One third of the world’s credit card frauds are perpetrated on the American consumer
7: Last year, data breaches affected over 155 million Americans.
6: Credit card fraud increased by nearly 33% in 2020, with identity theft increasing 53%
5: “Card not present” fraud is one of the top forms of credit card fraud and will likely increase as even more consumers shop online.
4: The age demographic most likely to have been a victim of credit card fraud was 30- to 39-year-olds.
3: Last year, there were almost 400,000 individual cases of credit card fraud in the US.
2: Over the last 12 months, 11% of credit card users were defrauded
1: Credit card fraud victims report an average loss of $780.
Over the course of the next ten years, credit card frauds costs could reach nearly $500 billion, and may affect a majority of card holders…
Making consumer fear and anger towards card issuers even worse.
The one solution every card issuer must employ now to avoid massive losses, and ease concerns of card holders?
Introducing ToolCASE, the world’s most advanced artificial intelligence tools for
real-time card fraud detection and prevention.
Discover more at TOOLCASE.COM