
Despite recent advancements in credit card safety protocols, such as temporary card verification value (CVV) numbers, chip cards, and contactless payments (which encrypt information for every transaction), consumers must continue to be diligent in safeguarding their information. Why? Because identity theft and credit card fraud are more prevalent than ever. According to Define Financial, in 2020, the Federal Trade Commission received approximately 4.8 million reports of ID theft and credit card fraud, a 45% increase from 2019. In addition, “card not present” fraud (transactions conducted when the consumer isn’t physically present) is on the rise. A June 2021 Merchant Fraud […]