Jun 26

Credit Card Fraud by Robert D Marple

My family recently took a trip to Europe to celebrate our 25th wedding anniversary.

We found credit cards were widely accepted in our foreign travels with two significant differences in their use, as compared to use in the U.S.

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The built in credit card chip was common-place in Europe and waiters & waitresses would bring their charge card reader to you and not take your credit card.

It appears the U.S. is behind in the adoption of both practices, chip use and card reader use. This may be changing with recent announcements and would be steps in the right direction. Charge card fraud is a significant problem in the U.S. with AP apparently reporting 50% of all credit card fraud in the world occurs in the U.S.

Everyone, including retailers and credit card companies, must become more proactive in their efforts to protect against ID theft and credit card fraud.