Chip or No Chip, Credit Card Fraud Is on the Rise; Here’s Why - NBC Southern California
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Chip or No Chip, Credit Card Fraud Is on the Rise; Here’s Why

The biggest problem is the numbers printed on the actual card

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    NEWSLETTERS

    Credit card fraud is on the rise, despite those new chip cards that were supposed to help reduce fraud. Randy Mac reports for the NBC4 News on Thursday, Feb. 2, 2017. (Published Friday, Feb. 3, 2017)

    Credit card fraud is on the rise despite those new chip cards that were supposed to help reduce it.

    A leading research company says credit card fraud is up 18 percent from 2015. That's about $16 billion in total losses, according to Javelin Strategy & Research.

    How is that possible? There are a couple things:

    Online shopping is one of them. Most of the increase comes from punching in credit card numbers online, which is a lot less secure than using the credit card chips in person.

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    Most of the other problems came from brick-and-mortar stores without chip technology.

    While skimming is a concern, the biggest problem is the numbers printed on the actual card.

    The easiest way to stay secure? Cover your credit card with your hand so crooks can't take a picture of the numbers on it and steal your information.

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