The Evolution of Credit Card Security...Some Might Say the Lack Thereof
From Investopedia
The world of credit card security comes with an entirely new language. Words like "skimming," "shoulder surfing" and "phishing" may sound less criminal than stealing, but they are, in fact, ways in which money and personal details can be stolen off your credit card. There does not seem to be any definitive global figures on losses from credit card fraud, but a study last year by Aite Group suggested that card fraud costs the U.S. card payments industry about $8.6 billion annually, with the bulk of the losses falling on card issuers. The numbers are staggering, and the cost of fraud will only get worse if the proper technologies are not developed. The main problem the card providers face is keeping one step ahead of the criminals. Here are some of the anti credit card fraud tools and technologies in place to protect our credit cards, and what basic protection steps we should also be taking. <<read more at Investopedia>
