Security News > 2020 > July > Here’s Why Credit Card Fraud is Still a Thing

McCoy's work in probing the credit card systems used by some of the world's biggest purveyors of junk email greatly enriched the data that informed my 2014 book Spam Nation, and I wanted to make sure he and his colleagues had a crack at the BriansClub data as well.

In 2015, the major credit card associations instituted new rules that made it riskier and potentially more expensive for U.S. merchants to continue allowing customers to swipe the stripe instead of dip the chip.

PREPAIDS. Some people concerned about the scourge of debit and credit card fraud opt to purchase prepaid cards, which generally enjoy the same cardholder protections against fraudulent transactions.

A story here last year observed that this exact supply and demand tug-of-war had helped to significantly increase prices for card-not-present accounts across multiple stolen credit card shops in the underground.

No doubt the epidemic of card fraud has benefited mightily from hacked retail chains - particularly restaurants - that still allow customers to swipe chip-based cards.

News URL

https://krebsonsecurity.com/2020/07/heres-why-credit-card-fraud-is-still-a-thing/