Fraud | Credit Card Topics

Card-Not-Present Transactions and Fraud Expected to Fuel Growth in Chargebacks Through 2028

By: Andrew Allen, 4/15/2025

Merchants and credit card issuers would rather spend their time pursuing the next sale than dealing with refunds and investigating fraud. But the very fact that chargebacks exist can actually motivate cardholders to use their cards more. Chargebacks give consumers confidence to transact with their cards. Educated cardholders know that they have a process to fall back on should they have to dispute a purchase they made with their credit card. A new report from Datos Insights and... read more »

Payment Scams on Social Media Prompt Chase Bank to Take Preventative Measures

By: Andrew Allen, 2/27/2025

Almost 50% of the scams Chase Bank customers reported to the bank from June 1 to December 31, 2024, began on social media platforms, according to Chase customer claims of wire transfer and Zelle scams for that period. The abundance of payment scams that start on social media sites has led Chase to take bold moves to help customers evade online fraud. The bank recently announced that — beginning on March 23 — it will no longer allow customers to make Zelle payments to contacts... read more »

Responding to Elder Financial Fraud With a Program for Caregivers

By: Andrew Allen, 2/21/2025

Senior citizens are frequently the target of financial scams. According to a recent FBI report on elder fraud, the agency’s Internet Crime Complaint Center — its hub for reporting cyber-enabled crime — receives more complaints of fraud from U.S. citizens over the age of 60 than from any other age group. Huntington Bank recently rolled out a program called Caregiver Banking to support individuals who need help managing their finances. The program allows individuals who require... read more »

AI Helps Merchants Mitigate Card Fraud That Affected 62 Million Americans in 2024

By: Andrew Allen, 2/20/2025

In 2024, some 62 million Americans experienced credit or debit card fraud. And unauthorized purchases made with fraudulently obtained card data topped $6.2 billion, according to a recent study from Security.org. Credit card fraud isn’t new, but the tactics criminals use to access cardholder information has changed over time. Unauthorized remote access of payment information and illegally installed skimming devices that capture card numbers allow scammers to commit fraud from... read more »

What Is a Fraud Alert? How to Inform the Credit Bureaus if Your Information is Compromised

By: Eric Bank, 9/11/2024

I was the victim of credit card fraud shortly after graduating college. I made a few modest purchases, only to discover that my credit card was also used to pay for gasoline and groceries I didn’t buy. I immediately replaced the card, and luckily, the damage was minimal — but it could have been a lot worse. At the time, I didn’t know anything about credit bureaus, credit reports, or fraud alerts. A fraud alert is a red flag that you can place on your credit report to warn... read more »

What Is Zero Fraud Liability? How to Protect Yourself From Fraudulent Credit Card Purchases

By: Jon McDonald, 8/29/2024

One of the MAJOR reasons it can be beneficial to you to use a credit card over a debit card (or even cash) is having a credit card with zero fraud liability. This protection is basically the credit card company putting their legal weight behind you to make sure not a dollar of your money is wasted to hackers, identity thieves, or other malicious tricksters. Zero fraud liability, also called fraud liability protection, means a cardholder is not liable for unauthorized... read more »

What is Fraud Protection? A Look at How Credit Card Issuers Keep Cardholders Safe

By: Zina Kumok, 8/6/2024

If you’ve ever experienced credit card fraud, you’re not alone. You are part of the 60% of Americans who have experienced the same thing. Even though fraud is relatively common, it would be even more widespread if it weren’t for the fraud protection tactics that credit card issuers use. Every day, credit card providers work tirelessly to keep your card information safe — and prevent fraud. Keep reading to learn more about what your credit card company is doing to protect you... read more »

Trust Stamp Provides Identity Verification Tools to Help Financial Institutions Fight Fraud and Protect Consumers

By: Andrew Allen, 6/19/2024

Businesses and consumers both require security when transacting online. Trust Stamp offers solutions that help financial institutions verify the identities of new and long-term customers. Its identity verification and duplicate detection tools help financial institutions block criminals from committing fraud. Trust Stamp also serves fintechs and industries outside the financial sector. Online security has undergone numerous enhancements over the years as... read more »

45 Revealing Credit Card Skimming and Fraud Statistics (2025)

By: Mike Senecal, 5/6/2024

The web is a wonderland until it's not. Credit cards and digital payment technologies are convenient until they result in identity theft and financial loss. Knowledge is the first line of defense against fraudsters stealing personal information. In card skimming, criminals overlay or insert card-reading devices into point-of-sale terminals, ATMs, gas pumps, and other devices to read the magnetic strips on cards. Card shimming accomplishes the same thing but steals information from... read more »

IDology Offers Comprehensive Fraud Prevention and Compliance Solutions to Financial Institutions

By: Andrew Allen, 2/26/2024

Knowing their customers in a global marketplace can be challenging for businesses. IDology helps companies verify their customers’ identities and prevent fraud. IDology’s solutions can reduce the time it takes a financial institution to onboard new customers. IDology maintains contact with its clients and proactively recommends new products and services. The internet isn’t very old. Though online capabilities are ever-expanding, and companies seemingly announce... read more »

21 Startling Credit Card Data Breach Statistics (2025)

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 »

TransUnion Incident Response Solutions Protect Businesses and Restore Consumer Confidence

By: Mike Senecal, 10/12/2023

TransUnion has a 50-year legacy as a credit reporting agency, but its positive impact extends to all business sectors where consumer identity is a factor. That includes protecting business data against reputational threats through its global incident response team. TransUnion draws on a holistic understanding of the global transactional space to deploy breach fulfillment and forensic solutions that prevent and mitigate the impact of data breaches and, ultimately, help... read more »

ScamSurvivors Combats Financial Scams and Helps Victims of Online Exploitation Recover Their Dignity

By: Mike Senecal, 3/22/2023

The internet creates an infinite space for scammers looking to steal money, privacy, and dignity. ScamSurvivors has provided a forum for fighting back since 2012. Although the game is always the same, scammers are tireless in devising new methods to take what isn't rightfully theirs. ScamSurvivors contains how-tos and forums for identifying and dealing with scams and staying updated with the latest trends. And it provides crucial support for scam victims who may feel... read more »

FICO Tackles a Recent Rise in Card Skimming Fraud and Suggests How Banks Can Mitigate Disruptions

By: Sean Roderick, 11/8/2022

Cases of card skimming are on the upswing at ever-increasing rates. Skimming is one of the biggest challenges for both consumers and financial institutions. FICO is working with banks to solve and prevent instances of skimming. It uses advanced software technology, like the Card Alert Service and Falcon Fraud Manager, to inform banks of suspicious activity. FICO also advises consumers to proactively monitor their accounts and use alert systems to catch fraudulent... read more »

How to Get a Virtual Credit Card Number (2024)

By: Brittney Mayer, 7/16/2024

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 »

SentiLink Earns Recognition for Tools That Protect Card Issuers and Lenders from Fraud and Identity Theft

By: Adam West, 5/20/2021

Identity fraud costs card issuers and lenders billions a year, but not all fraud is the same. When fraudsters co-opt a user's actual credentials, there's a clear break in an existing customer relationship, and the damage can be stopped. More insidious is synthetic fraud, where entirely new identities are fabricated, and there's no real customer involved. SentiLink uses an innovative combination of data analysis and human intelligence tools to protect financial... read more »

Due Diligence Pays Dividends for Consumers Aiming to Avoid Falling Prey to Credit Card Fraud Tactics

By: Adam West, 12/16/2020

As the COVID-19 pandemic took hold in 2020, consumers purchased more products and services on the internet. Unfortunately, that trend also motivated cybercriminals to increase their efforts. In Canada, for example, 2020 rates for ecommerce merchandise and credit card fraud surged well beyond 2019 levels. Internet fraud is ultimately a game of numbers, according to Jeff Thomson, Senior RCMP Intelligence Analyst at the Canadian Anti-Fraud Centre. If Canadian consumers... read more »

Scam Detector Resources Help Protect Consumers Against Credit Card Fraud and Other Threats

By: Adam West, 10/19/2020

Threats from fraudsters looking to steal credit card and identity information are a constant in today's connected world. That's why millions of people in more than 190 countries have turned to Scam Detector for free daily updates designed to protect them from the latest scams. And threats don't end with credit cards — if something seems too good to be true, it usually is. That’s why Scam Detector also helps consumers make smarter choices everywhere, whether they're... read more »

15 Disturbing Credit Card Fraud Statistics (2025)

By: Erica Sandberg, 12/10/2024

Get ready, reader. You're about to be presented with some eye-opening facts about credit card fraud, identity theft, and other financial scams. If you feel nervous by the end, try not to be. This overview is meant to educate and empower. Having been a victim of these types of financial crimes in the past, I understand how difficult it can be to learn that your personal data has been compromised. If someone uses your credit card account without your authorization, you can... 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 »

Expert Tips to Help Consumers Distinguish Between Legitimate Debt Collection Phone Calls and Scammers

By: Matt Walker, 10/19/2020

Unwanted robocalls are on the rise, despite continuing efforts to combat them. Common robocall scams include callers purporting to represent debt collectors or even the IRS. The scams prey on vulnerable consumers who may expose their sensitive information to criminals because they don't recognize the ruse. We recently spoke with Aaron Foss, the Founder of Nomorobo, to learn more about the robocall problem and gain insight on how consumers can identify illegitimate calls.... read more »

MarkMonitor® Uses Proprietary Anti-Fraud Technology and Intelligence to Build a Wall Between Fraudsters and Financial Brands

By: Ray FitzGerald, 10/19/2020

Every year, trillions of dollars are lost to fraud and brand manipulation. The scams can be as simple as a fake online paid advertisement claiming affiliation with a brand, or an impersonation website to trick customers into providing sensitive financial information. Since 1999, MarkMonitor has been a global leader in brand protection services. The company offers big and small corporations the latest technology and information tools to guard against fraud and malicious... read more »

Fighting Fraud with Knowledge — How Western Union’s Fraud Education Resources Help Lower Consumer Money Transfer Fraud

By: Brittney Mayer, 10/19/2020

While modern technological advances have improved many aspects of our lives, they've also given rise to new avenues for fraudsters and con-artists to scam us out of our hard-earned cash. For nearly 150 years, Western Union has helped Americans transfer money, and the company knows that knowledge is half the battle in the fight against fraud. With that in mind, Western Union is arming consumers with a comprehensive fraud awareness campaign to teach them the warning signs,... read more »

Finding Fraud Fast: How Advanced Predictive Modeling & Detection Technology from Fiserv are Helping Reduce Institutional Fraud Exposure

By: Brittney Mayer, 10/19/2020

From complicated phishing scams to simple pick-pocketing, fraudsters seem to never run out of ways to get their hands on your credit, debit, or prepaid card information. Thankfully, companies like Fiserv are fighting back -- and helping consumers fight back, too. With massive predictive models and highly trained fraud detection teams, Fiserv is a big part of the fraud-fighting infrastructure of more than 3,000 institutions around the country. They're even encouraging... read more »

My Credit Card Was Used Fraudulently: Here’s What to Do (2023)

By: Eric Bank, 4/28/2023

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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All articles tagged Fraud (25)