Around the world, bank card fraud losses to Visa and Master-Card alone have increased from $110 million in 1980 to an estimated $1.63 billion in 1995. The United States has suffered the bulk of these losses-approximately $875 million for 1995 alone. This is not surprising because 71 percent of all worldwide revolving credit cards in circulation were issued in this country.
Categories:
Credit Card,Fraud
Reporting Pub:
The FBI
Reporting Date:
6/1/1997
Article
Title:
Plastic Payments: Trends In Credit Card Fraud
Article
Author:
Keith Slotter, CPA
Pub's Source:
Sharon Walsh, "Cracking Down on Fraud With Credit Cards," The Washington Post,December 5, 1995, 1.
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