New data shows alarming trends in Card-Present and Card-Not-Present fraud rates in the U.S.

A recent study by the Kansas City Federal Reserve sheds light on the increasing fraud rates in card transactions across the United States. The report distinguishes between card-present and card-not-present transaction fraud, highlighting that while overall card-present fraud rates have slightly decreased, card-not-present fraud has seen a significant uptick. This shift is largely attributed to the growing volume of online purchases and the sophistication of cybercriminal activities targeting e-commerce platforms. As consumers increasingly rely on digital payment methods, businesses and financial institutions are compelled to bolster their cybersecurity measures. The report emphasizes the urgent need for enhanced security protocols to protect consumers and reduce fraud risks. This new data serves as a critical reminder of the dynamic nature of payment fraud and the importance of staying ahead in the ever-evolving digital landscape.

kansascityfed.org

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