Credit Card Fraud Statistics Report

Credit card fraud statistics 2014-debit-card-frauds-u.s.-credit-card-frauds-crimes-stolen

A credit card is one of the most popular and widely used payment methods allowing the cardholders to pay for goods or services through it. Having many benefits it also have some drawbacks from which one is known as Credit Card Fraud that is wide-ranging term for theft and fraud committed using it or any related payment method as a fraudulent source of funds in a transaction.

The purpose of such illegal practice  is to buy goods and services without paying or to get hold of the unauthorized funds from an account by unlawful practice. In accordance to the United States federal Trade commission, while the identity theft had been increasing during the last few years, it a saw 21% increase in 2008. However, such incidents got decline during the last few years. Although the occurrence of such frauds is limited to only 0.1% of the all transactions. According to a research in 1999, almost one out of 1200 transactions turned out to be fraudulent.During 2007, the fraud was estimated at £535 million in United Kingdom.

Cards fraud begins with the theft of a physical card or the data associated with an account including the card account number or any other information relating to it. What countries have the highest credit cards fraud rates in the world?

Credit Card Fraud Statistics Report Data
  American People affected by such frauds 10 %
  American Citizens reported as the victims of Debit Card Frauds 7%
  Median Reported Amount by Frauds $399
  All Financial Frauds Concerned to Credit Cards 40%
  Overall Amount of Credit Cards Fraud around the globe  $5.55 Billion

Different types of credit card frauds Throughout the World

Credit card fraud modern techniques

There are several types of credit card frauds but these vary from where both the card and criminal are present to where the criminal has acquired the particulars of a card holder and now he is able to pay for the goods fraudulently over the internet or phone. The telephone and internet transactions have increased the risks for the credit card frauds around the world. Fraudsters should not be treated as the normal people because they are more creative, fast-moving and intelligent than common people. Following is detailed information about the diverse types of credit card frauds.

[box type=”note” style=”rounded”]This section is consisted on the different fraudulent techniques and I am sure, after reading this information you will be able to defend you against such frauds.[/box]

Different Types of Credit Card Frauds

Application fraud through which a person will falsify an application for the acquirement of a card. Application fraud can be come apart into assumed identity where a person pretends to be somebody else.
Financial Fraud: In this type, a person provides the fake information about his or her financial position just for the attainment of a card for its illegal use.
Intercept Fraud: In this type, a person applies for a card legitimately but before reaching its real destination, this card is stolen.
Lost and Stolen Credit Cards are also used in number of illegal ways that are increasing the number of annual fraud rates around the world.

Following table includes all the types of frauds and their percentage.

Every Type of Credit Card Fraud  Percentage
  Countriesfeit Credit Cards 37
  Lost Or Stole 23
  No-Card Fraud means giving the particulars related to a card to a   non-legit telemarketer 10
  Stolen Cards During the Mailing Fraud 7
  Fraud of Identity Theft 4


4 Initial Points of Contact for Frauds

Initial point of contact for credit card frauds

Everyone should be careful and conscious about his/her credit card and transactions because a little mistake may cause a big fraud. Following is a statistical table showing the initial points of contact for frauds.

Initial Point of Contact for Frauds Percentage
  Email 48
  Internet Websites 12
  Telephone 10
  Miscellaneous 17

There are number of people who are victims of such frauds following is a statistical table of different people who are being effected by fraudulent people on the basis of their age.

Fraud Effected People by Age Percentage
  People aged between  20 – 29 19
  People aged between  30 – 39 22
  People aged between  40 – 49 25
  People aged between  50 – 59 25
  People aged between  60 + 10


Debit and credit card fraud has threatened almost all the countries but United States has reported to have more cases than all other countries of the world. Following is a list of states having the highest rates of credit cards frauds in the world.

List of States With Highest Credit Card Frauds in the World

Rank State Rate Per
1. Nevada flag  Nevada 412.9
2. Colorado flag  Colorado 412.4
3. New Hampshire  New Hampshire 387.2
4. Maryland flag  Maryland 393.6
5. Oregon flag  Oregon 291.7
6. Alaska flag  Alaska 377.7
7. Washington flag   Washington 376.1

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How to Prevent the Credit Card Frauds 13 steps

best credit cards faruds safety measures-tips-to-avoid-credit-card-frauds

In the eyes of a thief, what thing is better than cash? The answer might be a credit card. So it has become more essential for every card holder to have some information about its protection. After highlighting the fraud statistics and their types, you might be thinking how to prevent credit card frauds and what the precautionary measures you should take to avoid such frauds. At the end we are going to tell you the 13 points, which can protect you against this illegal attack.

  1. You must treat your cards same like your cash.
  2. Sign up your new cards as early as they arrive and cut up your old cards after their expiry date.
  3. Always make sure that your each transaction is processed in your own presence while purchasing your required things. When the cashier return your card then check it to ensure that it is your own card and it has not been tempered with in any way.
  4. A proper check and balance can help you to prevent frauds, so always try to keep your receipts for its comparison with your statement.
  5. Your statement is much important because of its sensitive information, so always keep your statement in a safe place.
  6. You should keep your credit card numbers confidential for the privacy.
  7. Sign your credit cards using a permanent ink as early as after keeping it in your possession.
  8. After every transaction, total your charge slip before signing in, because blank spaces are an invitation for unscrupulous people to add the additional amounts according to their choice.
  9. If you feel any unfamiliar transaction on your statement then never wait anymore to inform your bank.
  10. Shred all your statements before depositing them even those for the disabled accounts.
  11. Before changing your mailing address must inform your bank so the newest statements or any other documents are not sent on the old mailing address, which cause any difficulty for you.
  12. While you are traveling overseas, feel free to inform your concerned bank.
  13. Always keep the contact number of your related bank at your hand and inform if your card is lost or stolen.


[box type=”tick” style=”rounded”]I hope you will keep these precious points in your mind forever and i assure you if you follow these points you will never trapped in any fraud. Wish you all the Best.[/box]

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