Credit card fraud is the most common type of identity theft, according to a 2020 Federal Trade Commission report. This type of fraud typically entails someone taking over a person’s existing credit card accounts and charging without permission or opening new accounts using someone else’s personal financial information.
In both cases, the crook escapes with the goods and the consumer is left dealing with the credit, financial, and psychological damage.
Protecting your credit card accounts and personal identity is imperative, and it begins with education. Here are 15 disturbing credit card fraud statistics to get you started.