Financial scammers – especially those who are tech-savvy – are thriving in our digital age. Nearly 70% more Americans were impacted by financial data breaches in 2012 than in 2010, according to CardHub research, and $94 million worth of credit card fraud was reported in 2012.
Credit card fraud can be classified into two different categories. One is a form of identity theft, which occurs when someone else impersonates you in order to open credit card accounts under your name. Alternatively, the other type happens when your credit card or card information is retrieved to make unauthorized purchases. Both are troublesome to resolve, so one should take steps to stay informed and to protect themself.