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Credit Card Fraud

The current pandemic may have been one of the worst in history. It's also quite well documented that those infected with it have been a severe threat to public health and safety. However, another major issue that has come about as a result of this pandemic is credit card fraud.

Credit card fraud is skyrocketing during the pandemic for many reasons. These reasons include people's inability to work or even just an unwillingness to go out in public due to fear of being exposed to infection. However, it’s only one of the many crimes of theft that have skyrocketed during this health crisis.

How Credit Card Fraud Happens

Credit card fraud happens when unauthorized access to a person's payment card and personal credit card information is used for fraudulent transactions. Fraudsters can gain access to your data in a variety of ways, but the most common ways are through:

  • Skimming devices installed on automated teller machines (ATMs) or gas stations, which read your card information and then create a duplicate of it for the fraudster to use
  • Keyloggers record a person's login credentials so they can be exploited later
  • Malware-infected computers that capture passwords

This kind of fraud is also one of the misdemeanor crimes punishable by law.

Reasons For The Prevalence of Credit Card Fraud

The pandemic has led to many theft crimes, but why is credit card fraud so much more prevalent than crimes like pick-pocketing or shoplifting? For starters, it's easier and faster. Other reasons are outlined below.

  1. Increased Online Purchases

Why is credit card fraud so much more prevalent than crimes like pick-pocketing or shoplifting? For starters, it's easier and faster.

The pandemic has encouraged the growth of online purchases, which requires the use of credit cards. During every online transaction, an owner must enter their credit card information. This is a significant risk because the individual could be easily tricked into not seeing what they're actually paying for. In addition, all their private data can be stolen from these sites.

Aside from knowing how credit card frauds affect consumers, it's equally important to emphasize that such fraud also affects small businesses allowing card payments. Unfortunately for these businesses, the cost of reimbursing fraudulent transactions is often higher than the cost of implementing security measures.

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  1. High Unemployment Rates

Another factor that might have contributed to the increase in credit card fraud is the high unemployment rate. With some people being out of work, they're at risk of getting involved in crimes like this. But, again, it's because the prospect of gaining anything from it might be higher than if they're working.

Some people who’ve been unemployed for an extended time could also feel like they must do something illegal to get some money or survive financially. They may also be looking for ways to get some quick cash. Often, crimes like credit card frauds can provide an individual with a relatively fast way of making a large sum.

  1. Rising Preference For Cashless Transaction

Many people are more likely to transmit the virus, particularly if they're in close contact with another person or when they touch an infected object or surface. Thus, nowadays, it has been a practice to use cashless transactions as often as possible. Some believe that it’s a safer way to keep themselves protected.

With this shift in buying behavior, thieves also have shifted the way they operate, which has contributed to this spike in crimes. Thus, individuals and businesses alike need to be aware of how these scams work so you can protect yourself from becoming a victim.

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How To Keep Yourself Protected From Credit Card Fraud

With the prevalence of credit card fraud, it’s only proper to take the necessary precautions to protect yourself from becoming a victim. To do so, you should:

  • Stay vigilant. When using your credit card at a store, make sure the person at the point of sale isn’t distracted. Look for anyone suspicious standing nearby and pay attention to any movements near or around you.
  • Always be on guard while making purchases online as well. Never click off a website until you're sure that the credit card information and billing address have been finalized.
  • Keep your personal information safe with the correct settings on social media accounts. For example, be sure that you're limiting access to only friends, family members, or co-workers who know better than to share your sensitive posts.
  • Consider taking a break from shopping while the pandemic is going on, particularly if your credit card information has been compromised.


The prevalence of credit card fraud is a problem that has been growing for years. This article provided three reasons why there’s been a prevalence of these crimes happening in today's world.

Nathalie Nicole Smith states that working hard and staying true to yourself are sure ways to win in life.

If you want to prevent yourself from becoming the next victim, it would be wise to take basic precautions when using your credit cards online and offline. While not foolproof guarantees of safety, they could help reduce your risk factors significantly. What other ways do you think might lead to an increase in fraudulent behavior?