STUDY ON CREDIT CARD ID FRAUD INCREASE BLAMES THE CHIP

Posted on February 6, 2017

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CBS DFW: “Meant to protect customers from credit card fraud, most cards now have security chips, and many businesses bought the chip readers to go with it. But more than a year after they became common place, research shows that identity theft is actually up. …
Consumers and businesses switched to the chip-based cards and readers 16 months ago to deter theft. But a study released this week from Javelin Strategy and Research found that identity fraud cases rose 16 percent in 2016, which equates to 15.4 million new victims – a record high.”

Chip based debit/credit is here, the story makes no mention of how many small businesses which are still not capable of accepting it. Online fraud has increased dramatically, the primary reason being businesses are forced to swipe. There is a nearby Subway which is dragging it’s feet, exposing customers to ID fraud.

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CBS DFW- Study: ID Fraud Up Since Security Chips Put Into Play

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Posted in: News