The credit card industry has always been targeted by hackers and thieves. Unfortunately, the most common scams have changed right along with technology. According to a 2020 identity theft study from Javelin Research, scammers have mostly graduated from counterfeiting credit cards to more significant crimes like identity theft and savings account takeover. The next year could even bring about even more complicated scams like synthetic identity fraud and takeovers of investment accounts instead of just checking and savings accounts.

While nobody knows for sure what the future holds, it’s safe to say financial scams cause headaches and financial losses, and will likely continue doing so for years to come.

Still, you don’t have to be a victim if you’re careful. The experts at Javelin Research say a large part of reducing fraud is making sure consumers adopt safer methods to protect their sensitive data while they manage…

Read full article at scammernews.com

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