Credit Card Fraud Stats – Protect Yourself from Being Scammed

credit card fraud A great number of researches have shown that hackers and fraudsters actually have an easy time getting into credit card accounts and gain access to a whole lot of information about the account holder. The truth is they do not need a lot of it. They only need the number and they can hack their way through security codes and passwords. This is all according to research. After they gain access of the account, they now can make purchases and charge it to the card they defrauded.

It is the number one reason why cyber attacks are done in groups of accounts. Cyber thieves have caused millions in losses. Most of these involve the illegal acquisition of financial details, passwords, and contacts.

Credit and debit cards are the most affected when it comes to cyber crime. Every time a hacker prevails in doing so, someone else gets charged for something he never spent for.

The hacking of credit cards is a crime in which cyber thieves steal money from account holders and use their credit by copying or cloning their card information.

The sad part is this has been happening for a good number of years now. What makes it worse is that this has become bigger than ever with the money involved numbering in the millions. The reason for this proliferation is that more businesses are being done on the Internet where the main mode of payment is through cards.

To give you some protection against cyber financial crime, here are some statistics on credit card fraud. This infographic also shows you ways on how you can protect yourself from people who want to cheat you off your hard-earned money.

Source:
Marina Robertson

credit card fraud