Those tiny chips in your credit and debit cards help derail fraudsters
From Katherine Skiba, AARP –
Credit and debit card fraud dropped in 2018, thanks to the emergence of embedded chip cards over the past few years, a new report says.
The report, from Javelin Strategy & Research, says the firm’s annual consumer survey showed identity fraud hit an estimated 5.6 percent of U.S. adults in 2018, a decline from a year earlier.
The results, reflecting a nearly 15 percent reduction year-to-year, were due almost entirely to the decline in credit card and debit card fraud.