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9 Frightening Credit Card Fraud Stats for 2022

9 Frightening Credit Card Fraud Stats for 2022

According to the FTC, credit card fraud is the most common type of identity theft. Over the course of the next decade, losses at credit card issuers and banks are expected to exceed $408 billion. Here are 9 credit card fraud stats for 2022:

38.6%: Nearly 40% of all credit card fraud occurs in the United States

75.1%: The overwhelming majority of fraudsters are males in their 30’s

18%:  Relatives commit one fifth of all child identity fraud crimes

Top 2: The top two states for ID and card fraud are California and Georgia

$5: The average price of stolen credit card data, with CVV, on the dark web

81%: Card not present fraud (CNP) is now 81% more prevalent than POS fraud

140%: The increase in fraud attacks on eCommerce merchants since 2020

42.6%: The odds of a baby boomer becoming a victim of fraud are nearly 1 in 2

65%: Card issuers are the biggest victims, accounting for 65% of all losses

 

The credit card industry must take steps to fight fraud. Not only to protect their customers, but to reduce the incredible losses being incurred. With card issuers being the primary victim, the time to stop these crimes is now.

Discover ToolCASE, the world’s most advanced transactional Ai company, and the credit card industry’s preferred choice for real-time fraud detection and prevention.