Credit cards are being used for over half of transactions that are conducted in the nation. This is a testament to how easy it has become for people to start using credit cards, and it has resulted in cash only being used for around 26% of retail transactions that are currently being conducted. Such a trend can be positive, but in spite of the fact that this is the case it has also given rise to an increase in credit card fraud.
With all of that having been said and now out of the way, it is important to note that 65% of Americans have suffered from credit card fraud at least once during their lives. That adds up to around 151 million Americans in total. One thing to mention here is that last year the number was 58%, which means that the proportion has gone up by 7 points in the span of a single year.
Back in 2021, 35% of Americans said that they had noticed fraudulent transactions at least two times. That has gone up toe 44%, which seems to suggest that malicious actors are getting bolder in their attempts than might have been the case otherwise.
The amount that consumers are being defrauded of is also increasing by a very large margin. The median amount of the average fraudulent charge was around $79 in 2022, which represents a 27% increase from the number that was seen back I n2021 with all things having been considered and taken into account.
It should be noted that storing your credit card information on browsers for fast transactions could make you more likely to suffer from fraud. Malicious actors can obtain this information fairly easily, which explains why a disproportionate number of fraud victims were found to take part in such forms of credit card use.
All of this information comes out of the latest credit card fraud report compiled by Security.org. It reveals that this fraud is increasing at a rapid pace, which makes the creation of solutions all the more urgent in the near future.
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With all of that having been said and now out of the way, it is important to note that 65% of Americans have suffered from credit card fraud at least once during their lives. That adds up to around 151 million Americans in total. One thing to mention here is that last year the number was 58%, which means that the proportion has gone up by 7 points in the span of a single year.
Back in 2021, 35% of Americans said that they had noticed fraudulent transactions at least two times. That has gone up toe 44%, which seems to suggest that malicious actors are getting bolder in their attempts than might have been the case otherwise.
The amount that consumers are being defrauded of is also increasing by a very large margin. The median amount of the average fraudulent charge was around $79 in 2022, which represents a 27% increase from the number that was seen back I n2021 with all things having been considered and taken into account.
It should be noted that storing your credit card information on browsers for fast transactions could make you more likely to suffer from fraud. Malicious actors can obtain this information fairly easily, which explains why a disproportionate number of fraud victims were found to take part in such forms of credit card use.
All of this information comes out of the latest credit card fraud report compiled by Security.org. It reveals that this fraud is increasing at a rapid pace, which makes the creation of solutions all the more urgent in the near future.
