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Data for today’s episode is provided by Mercator Advisory Group’s report – 2019 U.S. PaymentsInsights – Technology and Fraud: Consumer Concern Is Real.
What Are the Most Common Types of Payments Fraud?
- Card fraud is the most common type of payments fraud by a wide margin.
- 18% of consumers experience card fraud.
- As well as being the most common, card fraud also had the least variance between males (19%) and females (17%).
- Identity theft, telemarketing fraud, and fake organizations are all tied for 2nd most common type of fraud, affecting 7% of consumers in 2020.
- Check fraud disproportionately affects males (7%) over females (3%).
- Platform fraud was the least reported type of fraud (3%) over the last 12 months.
- Overall, males are victims of fraud at a higher rate (34%) than females (26%).
Mercator Advisory Group’s most recent consumer survey report, Technology and Fraud: Consumer Concern Is Real, from the bi-annual North American PaymentsInsights series, takes an in-depth look at U.S. consumers’ current perspectives on technology and fraud.
This report explores how technology and fraud impact consumers lives and, in particular, the way they shop and pay for things. This includes detail on not only what they do but also how they feel about these two important consumer issues.