Consumer Payment Card News

Card Fraud

While physically lost or stolen credit cards account for about 28% of card fraud, a new report has found that hacking, phishing and the use of spyware now make up 11% of fraud on existing credit cards. Low-tech dumpster diving, intercepted mail and fraudulent change of address comprise less than 10% of credit card fraud. According to Javelin Strategy & Research, stealing credit card information from a transaction accounts for 11.9% of card fraud, while corrupt employees make up 10.6%.

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|_2. CREDIT CARD FRAUD |
|_. Lost/Stolen: | 28.0% |
|_. Transaction: | 11.9% |
|_. Employees: | 10.6% |
|_. Mail Related:| 7.1% |
|_. Spyware: | 6.4% |
|_. Garbage: | 2.4% |
|_. Hackers: | 2.3% |
|_. Emails: | 2.3% |
|_2. Source: Javelin Strategy & Research |

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