Understanding Card Fraud & Identity Theft
Card Fraud and Identity Theft: The Problem
Card Fraud and Identity Theft continue to rise every year. In the U.S. alone, card fraud impacted over 8 million adults in 2010, resulting in loses totaling over $37 billion.
People who commit card fraud are looking for new ways to steal card information so they can make unauthorized transactions at the cardholder’s expense. Cardholders must spend their own time and money to address these issues and may be out sizable sums of money until the fraudulent transaction is resolved.
On a longer term basis, victims of fraud feel vulnerable after their personal accounts were accessed which may change how they make purchases and manage their money.