Archive

Go to:

August 2017
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Jul Sep >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

FICO Data Shows the U.S. Credit Card Fraud Incident Rate Rose 17 Percent Over Two Years
Friday, October 11, 2013 7:00 AM

U.S. credit card fraud incident rate reportedly rose by 17 percent between January 2011 and September 2012, while the fraud dollar to non-fraud dollar ratio remained stable during the same period. The card-not-present (CNP) fraud incident rate grew by 25 percent during the time period, far outpacing the counterfeit fraud incident rate, which grew by 14 percent.

CNP fraud, which refers to purchases made without physically presenting a credit or debit card, such as online purchases, accounted for almost half (47 percent) of all credit card fraud.

While the rate of card fraud attempts rose, the average loss per compromised account fell 10 percent during the time period.

In contrast to credit card fraud, the debit card fraud incident rate was reportedly unchanged, and average fraud losses per account dropped by 3 percent. Most debit card fraud occurs at ATMs, grocery stores and gas stations.