Credit Card Fraud Is the Problem That Won't Go Away. It Just Changes

Despite advances in technology, credit card fraud continues to be a problem.

Credit card fraud costs American companies billions of dollars each year.

We’ve all been there.

You notice asuspicious chargeon your latest credit card statement.

Cancel your card, get a new one issued, refresh your online accounts with the new number.

It’s a total pain.

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It also isn’t going to go away anytime soon.

The accounts of more than 13 million American adults were affected, Javelin says.

Meanwhile, those criminals, new or old, are taking their crimes online.

“This is something that would have happened over a period of years,” Fabara said.

“The pandemic made it happen overnight.”

Good security can still allow for a good customer experience, Fabara says.

“That’s not somewhere over the rainbow,” Moore said.

“That’s three to five years from now.”

“It’s very burdensome but necessary to keep the wheels of personal commerce greased,” he says.