Top 5 Types of Fraud Experiences for Credit Cards:
Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left of your screen to receive notifications as soon as the episode publishes.
Data for today’s episode is provided by Mercator Advisory Group’s Report: 2022 Fraud Experience PaymentsInsights: Payment Fraud – The Consumers’ Perspective
Top 5 Types of Fraud Experiences for Credit Cards:
- 21% of credit card holders had their payment information stolen.
- 14% of credit card holders willingly made a payment for goods or services they never received.
- 9% of credit card holders had their account accessed by someone else who made purchases on their behalf.
- 7% of credit card holders were tricked into providing statement information to scammers.
- 6% of credit card holders were tricked into sending a P2P payment to scammers.
About Report
Mercator Advisory Group’s report, 2022 Fraud Experience PaymentsInsights: Payment Fraud – The Consumers’ Perspective, examines payment methods in relation to fraud, the dollar value of fraud incidents, types of fraud experiences, identity theft-related fraud, consumers’ experience with resolving fraud cases, as well as consumers’ attitudes, not only about fraud but also about the financial institutions they use for banking and bill paying services.
The report is based on the Fraud Experience PaymentsInsights survey administered in January 2022 to a nationally representative sample of 3,611 United States consumers, ages 18 years or older.
“Payment and identity-related fraud prevention can be achieved by building an alliance with consumers and learning from past fraud experiences so that financial institutions and merchants can continue to educate both themselves and their consumers on what patterns to look out for so that they can avoid becoming victims of fraud,” says Amy Dunckelmann, VP, Research Operations at Mercator Advisory Group.
