Feb 10 2010

Credit Card Fraud is on the Rise: How you can Protect yourself from becoming the Next Victim

Posted by in Finance Online

The numbers are quite staggering: credit card fraud flew to the number-one spot in 2009 in terms of identity theft. In particular, credit card fraud accounted for nearly 75 percent of all identity theft cases last year.

This jump in credit card fraud represents an amazing 63 percent increase from 2008. In addition, the number of identity theft victims rose 12 percent to 11.1 million.

Other numbers reported by Javelin’s annual identity theft fraud report include:

  • Total losses from identity theft rose 12 percent to $54 billion in 2009, up from $48 billion in 2008.
  • Theft amounts, per victim, were approximately $4,481 in 2009.
  • Debit card fraud dropped to 33 percent of all identity theft, down from 35 percent in 2008.

It’s no surprise that identity theft is steadily increasing, given the amount of time that individuals spend on the Internet, notebooks and PDAs.

So, what can you do to ensure that you’re not the next victim of credit card fraud?

  • Use one credit card exclusively for online shopping. This

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