Old-School Credit Card Scams Persist, Causing Over $1 Billion in Annual Losses in the U.S.
Despite advancements in digital security, traditional credit card scams, including mail fraud and skimming, continue to be prevalent and costly in the United States. Criminals are employing tactics such as mailing fake replacement credit cards that direct victims to fraudulent websites via QR codes or URLs to steal personal information. These sham cards often appear legitimate, sometimes even bearing the victim's name, to build trust. Additionally, credit card skimming, particularly targeting magnetic stripe cards, remains a significant issue. The FBI has noted a rise in EBT card skimming since 2021. The U.S. Attorney’s Office for the Northern District of Alabama recently indicted two Romanian nationals for alleged credit card skimming, specifically targeting government SNAP food assistance benefits distributed on antiquated magnetic stripe-only debit cards, known as Electronic Benefit Transfer (EBT) cards. US Attorney Phillip W. Williams Jr. stated that skimmer fraud is rampant, leading to over $1 billion...