Dollar Volume of Credit Card Fraud Incidents:

Dollar Volume of Credit Card Fraud Incidents:

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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2022 Fraud Experience PaymentsInsights: Payment Fraud – The Consumers’ Perspective

Dollar Volume of Credit Card Fraud Incidents:

• 30% of respondents reported under $100 in credit card fraud.
• 31% of respondents reported between $101-$500 in credit card fraud.
• 14% of respondents reported between $501-$1,000 in credit card fraud.
• 11% of respondents reported between $1,001-$2,500 in credit card fraud.
• 14% of respondents reported greater than $2,500 in credit card fraud.

About Report

Mercator Advisory Group’s report, 2022 Fraud Experience PaymentsInsights: Payment Fraud – The Consumers’ Perspective, examines payment methods in relation to fraud, the dollar value of fraud incidents, types of fraud experiences, identity theft-related fraud, consumers’ experience with resolving fraud cases, as well as consumers’ attitudes, not only about fraud but also about the financial institutions they use for banking and bill paying services.

The report is based on the Fraud Experience PaymentsInsights survey administered in January 2022 to a nationally representative sample of 3,611 United States consumers, ages 18 years or older.

“Payment and identity-related fraud prevention can be achieved by building an alliance with consumers and learning from past fraud experiences so that financial institutions and merchants can continue to educate both themselves and their consumers on what patterns to look out for so that they can avoid becoming victims of fraud,” says Amy Dunckelmann, VP, Research Operations at Mercator Advisory Group.