Taking Charge : Americans, No Longer Easy Victims to Credit Card Fraudsters

Taking Charge: Americans, No Longer Easy Victims to Credit Card Fraudsters 0000 According to global surveys, 1 in 4 consumers has n000 0000 EXPIRES (0/00 been a victim of credit card fraud in the past 5 years. Tired of waiting for credit card companies and merchants to ensure their protection against fraudulent activity, people are taking matters into their own hands. This infographic illustrates the fraud experience in the U.S., and what are con- NAME sumers doing to avoid becoming a victim. Credit Card Usage 56B $3.4T 17% CREDIT CARD וכוו 5576 ףסכנ credit, debit, and prepaid total amount transacted increase in credit card CARDHOLDER card transactions in worldwide fraud over the past 2 2009 years The Frequency of Crime Among Americans who experienced credit card fraud in the last 5 years: 23% 11% 6% 2% 1% twice three didn't have once more times than credit cards 3 times The Damage $399 40% $191B average amount of financial fraud related total amount of credit money reported to credit cards card fraud in the world Initial Point of Contact Email Online website Telephone Other 48% 12% 10% 17% What Age Group Is More Exposed? Although tech-savvy and informed, young people are more likely to fall victim to fraudsters than the elderly. 19% 22% 25% 25% 10% 20-29 y/o 30-39 y/o 40-49 y/o 50-59 y/o 60+ y/o After being victims of fraud, credit card holders are reluctant to use their card with the same frequency as before. Asked whether they chose to use cash or other form of payment after experiencing fraud, survey participants responded: After experiencing fraud, a lot of Americans stop using their credit cards with the same frequency as before: I 54% no 40% 1 to 3 months I 37% yes, in some situations 28% 4 to 6 months 7% yes, in all situations I 21% less than 1 month O 2% use cash instead of debit I 11% more than 6 months card but not instead of credit card After experiencing fraud, customers expressed their level of satisfaction regarding the manner in which the fraud was handled: Very unhappy Fraud amount <$200 Somewhat unhappy Fraud amount >$200 Somewhat happy Very happy 40 60 User Authentication: Required Although tech-savvy and informed, young people are more likely to fall victim to fraudsters than the elderly. Americans are taking extra measures to protect themselves against card fraud by requesting identification, but it almost never happens. Nearly 44% write "see ID" or Despite this, 87% of Americans say leave the signature area blank they are never asked by merchants whenever using their credit card to to present proof of their ID. make a purchase Make It Digital People surveyed expressed their willingness to embrace electronic ID identification. 32% prefer to carry and show a 20% choose to identify themselves IDENTITY CARE digital version of their ID/driver's using other forms of ID instead of license on their smartphone. driver's license. 23% 17% Between the genders, men are Young people (18-34 years old) most likely to use a different form are more likely than their older of identification. counterparts to prefer electronic identification. If you have been charged with fraudulent activity, a criminal defense lawyer will help you have the charges reduced or dropped altogether, ensuring minimal damage and the best outcome for your case. Credit card fraud is a serious criminal charge – act now! Sources: www.statisticbrain.com/credit-card-fraud-statistics/ www.jumio.com/2013/10/consumers-taking-credit-card-anti-fraud-measures-into-their-own-hands-dont-feel-merchants-are-heeding-call www.aciworldwide.com/transaction- articles/2013/february/product-news-1-annual-fraud-survey-sheds-light-on-your-customers-fraud-concerns.aspx www.thestreet.com/story/12085930/1/consumers-go-guerrilla-against-fraud-cash-refusal-to-sign-card-backs.html www.aciworldwide.com//media/files/collateral/aci_aite_global_consumers_react_to_rising_fraud_1012?utm_campaign=&utm_medium =email&utm_source=Eloqua TheLawOffice of Brought to you by Kimberly Diego www.diegocriminaldefense.com DENVER CRIMINAL DEFENSE LA WYER