Chip or no chip, credit card fraud is on the rise with the biggest problem being the numbers printed on the actual card
By Randy Mac | NBC4 | February 2, 2017
Credit card fraud is on the rise despite those new chip cards that were supposed to help reduce it.
A leading research company says credit card fraud is up 18 percent from 2015. That's about $16 billion in total losses, according to Javelin Strategy & Research.
How is that possible? There are a couple things:
Online shopping is one of them. Most of the increase comes from punching in credit card numbers online, which is a lot less secure than using the credit card chips in person.
Most of the other problems came from brick-and-mortar stores without chip technology.
While skimming is a concern, the biggest problem is the numbers printed on the actual card.
The easiest way to stay secure? Cover your credit card with your hand so crooks can't take a picture of the numbers on it and steal your information.
No comments:
Post a Comment