The tactics used to fight credit card scams are getting more sophisticated all the time. Unfortunately, so are the tactics used by credit card scammers.
More than 2.1 million cases of fraud and identity theft were reported in 2020, according to the Federal Trade Commission — an increase of 26% from five years earlier and 138% in a decade. Credit card-related scams accounted for a significant chunk of those cases, including more than 40% of identity theft reports. And those were just the cases that were reported to law enforcement and consumer protection agencies.