Credit Card Fraud Stats – Protect Yourself from Being Scammed

The number of credit card owners is on the rise as it is easier to carry card than cash when going out. In the same manner, the number of credit card fraud incidents has also increased in number. These days, criminals are getting more and more creative in finding ways to acquire information from their potential victims. In fact, according to research, it is relatively easy for scammers to get the details to make scam payments from someone else’s card.

Despite the many warnings the government has instigated for credit card users, it is still alarming how many are affected by these criminal activities, although learning how to protect ourselves further is never too late.

As we conduct more of our lives online, more criminals are getting better and becoming more sophisticated in stealing money and information from people. Looking at the worldwide status of credit card fraud, it has gone up to a massive $5.55 billion, with the median amount stolen at around $399.

Data from top companies have also been breached to acquire the wealth of information from their customers. Sony is no stranger to cyberattacks as well, having 77 million affected customers in 2011. Perhaps Target had its worst as its CEO was fired in 2013. It had 40 million affected customers, and also lost $146 million.

There are a number of ways to protect yourself from scams both online and offline. We have created a couple of tips to help you protect yourself and not become one of the victims in the form of a colorful and informative graphic below.

When you plan to use your card in a public place, be sure to keep an eye on it. When paying bills, be sure to get your card back as quickly as possible. For example, when at a restaurant, most people would simply give their cards to the waiter and wait for it to be returned. But the problem is that, what is stopping the waiter from copying your number and ordering a bunch of items later? Therefore, as much as you can, do not let your card out of your sight at all times.

By following the tips detailed in the eye-catching infographic below and being informed of the status of the credit card fraud, protecting yourself and avoiding being a victim could go a long way.

Credit Card Fraud Stats - Protect Yourself from Being Scammed

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