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12/19/2019
Credit Card Fraud Has Tripled. Don't Let It Happen to You
The Motley Fool
Try these smart moves to keep identity thieves away.
As a society, we love our credit cards. They let us pay for large purchases over time (albeit at a high cost) and they give us rewards for buying things we were going to buy anyway. Unfortunately, identity thieves love credit cards too, but for different reasons. They're a great tool for spending large amounts of money in relative anonymity, without assuming any responsibility for the bill.
Instances of credit card fraud have nearly tripled since 2014 according to The Ascent's research into identity theft and credit card fraud. While the increase in credit card fraud has slowed in recent years in part due to the adoption of EMV chip cards, it is still an issue that affects many consumers. Your card issuer might not hold you responsible for these fraudulent purchases if you report the situation right away, but it's still a hassle for you. The following three strategies can help reduce your likelihood of becoming a victim of credit card identity fraud.
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