ARLINGTON, Va. – Even as the cost of credit card fraud continues to soar, fewer than 50% of Visa accounts are now using EMV technology, which will help mitigate the problem, Senior Director of North American Risk Services Lori Hodges said.
Speaking at the PSCU-sponsored Focus on Fraud Perspectives Thought Leadership, which took place at the Renaissance Arlington Capital View, Hodges said the cost of credit card fraud in the U.S. grew 85% between 2011 and 2015.
Hodges added 61% of data breaches and fraud incidents worldwide occur in the U.S. Many of those incidents are caused by integrators – companies that may provide services to a retailer or restaurant and have access to credit card information.
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