Credit Card Fraud in the U.S. Topped $8 Billion in 2015

From Time

The U.S. is responsible for more than a third of the world’s credit card fraud.

While fraud losses incurred on all credit, debit and prepayment cards reached $21.84 billion last year, losses in the U.S. accounted for $8.45 billion, or 38.7% of the total volume, according to the Nilson Report, a trade newsletter covering the industry. At the same time, the nation generated just 22.9% of global purchase and cash volume.

Chip cards account for just 2% of losses, however.

Read the full article.