Credit card fraud has increased in the US during 2012, according to data from financial analytics provider FICO.
FICO Labs gathered data from more than 2.5bn active credit and debit payment cards across 20 US states: nearly half (46%) of all card skimming occurred at bank ATMs, while 36% took place at retail point-of-sale terminals. The remaining 18% occurred at white-label ATMs – machines that are not operated by banks.
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Certain states saw massive leaps in fraud, with more than a 26% increase in credit and debit card skimming.
"The prevailing fraud scheme has been ATM skimming because that only requires a PIN, not a signature," said John Buzzard, who manages the FICO Card Alert Service, which analyses more than 65% of all ATM transactions in the US each day.
According to FICO, despite this year’s increase, credit card fraud has decreased considerably in recent years, since anti-fraud solutions were implemented.
FICO’s fraud chief, Doug Clare, is pleased with the overall improvement, but maintains that consumers need to be aware: "Fraud continues to be problematic and we must remain vigilant about protecting credit cards and bank accounts."
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By GlobalDataTo highlight debit and credit card fraud trends across the US, FICO has created an interactive map.
