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According to the Federal Reserve, total credit card debt and debt per U.S. household has grown by 8% since 2022. When paired with increased prices on everyday items and worsening inflation, consumers are relying on using credit cards more than ever and should be especially mindful of securing their finances against new, high-tech scams in order to avoid further compounding economic insecurity. While digital finance modes continue to offer better accessibility to consumers, it in turn offers more opportunity for cybercriminals to obtain sensitive information.
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