Credit card fraud is rampant, and it’s getting worse. Although consumers seldom have to pay for credit card fraud themselves, every dollar of fraud costs banks and credit unions $2.92. When you consider that worldwide losses from credit card fraud are expected to reach $32.82 billion this year, those are huge costs for financial institutions and merchants.
How often do you use your credit card? Do you use it to buy groceries, gasoline, or clothes? Do you do a lot of online shopping? Are you a travel fanatic, and do you use your card to take regular trips? If you answered “yes” to any of these questions, then you are a potential victim of credit card fraud.