Consumers beware; the United States officially has the highest rate of credit card fraud in the world — a staggering 47 percent of all cases occurred in the United States.
In 2010, 3.56 billion in payment card fraud losses reported in the United States alone, with another 4.04 billion lost world wide, up more than 10 percent from 2009. The United States counts for 27 percent of the worldwide purchases, but nearly half of all credit card fraud activity, which is explained by the fact that the United States have been last on board with new security measures that have gained popularity in the rest of the world.
Credit fraud can leave a huge mark on one’s credit report and getting the credit bureaus to remove the information can be a hassle, so it’s best to avoid fraud at all costs by frequently checking credit and bank accounts online and freezing a card once fraud is suspected.
Monitoring alone will not prevent fraud, only put it to a halt. To prevent fraud all together, avoid giving your credit card information to websites you’re unfamiliar with and be sure there is an SSL connection, which is indicated with an “s” following the “http” in the URL. Also, it’s a good idea to change your password every few months, incorporating numbers, letters and capitalization.
There are also reputable fraud monitoring services for those who might find themselves to be at a higher risk.
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