Fraud | Credit Card Topics

All articles tagged Fraud (5)

21 Startling Credit Card Data Breach Statistics (2024)

By: Erica Sandberg, 10/26/2023

Rolex watches, diamonds, precious art? In aggregate, such items are not nearly as valuable as all the credit card data and individual account information people can steal. When thieves steal personal financial information, they have access to people’s personal details as well as their credit card account numbers. Hackers can either open up new credit accounts, charge with the credit card account numbers that are now in their possession, or even make duplicate cards. It’s a... read more »

How to Get a Virtual Credit Card Number (April 2024)

By: Brittney Mayer, 4/16/2024

While the implementation of chipped EMV credit cards has eliminated a large portion of card-present (CP) fraud, the amount of card-not-present (CNP) — read: online — credit card fraud has steadily risen over the last few years. In an effort to combat CNP fraud, card issuers and third-party companies have developed what are called virtual credit cards. Designed for use when shopping online, virtual credit cards are randomly generated, single-use credit card numbers that can limit... read more »

15 Disturbing Credit Card Fraud Statistics (2024)

By: Erica Sandberg, 7/31/2023

Credit card fraud is the most common type of identity theft, according to a Federal Trade Commission report. This type of fraud typically entails someone taking over a person's existing credit card accounts and charging without permission or opening new accounts using someone else’s personal financial information. In both cases, the crook escapes with the goods and the consumer is left dealing with the credit, financial, and psychological damage. Protecting your credit card... read more »

What to Do if Your Credit Card is Lost or Stolen

By: John Ulzheimer, 8/3/2020

It has happened to all of us. We use our credit cards and use them often. We do our best to protect not just our physical card and its information, but also the credentials to our bank’s online account access. But regardless of how careful we may be, nobody is immune to either losing their credit card or falling victim to one of the most common identity theft crimes in the country -- credit card fraud -- thanks to a stolen card. A lost or stolen credit card can be a stressful... read more »

My Credit Card Was Used Fraudulently: Here’s What to Do (Feb. 2024)

By: Eric Bank, 1/26/2024

Even with today's increased security measures, credit cards can still be susceptible to fraud. Just a few months ago, my credit card was used fraudulently. Thankfully, I was able to recover the funds lost through the duplicitous purchases. If you find yourself in a similar situation, and your credit card was used fraudulently, here's what to do. The IRS's advice is to place a “fraud alert” or a “credit freeze” on your credit account. You can also use a credit monitoring or... read more »

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