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February 16, 2018

Nevada faces highest risk of credit card fraud in US

A new report published by RewardExpert provides insights into the US states that are more vulnerable to threat of credit card fraud and identity theft, and found Nevada to be the biggest target for these fraudulent activities.

RewardExpert is a free service that guides its customers through frequent flyer programmes, credit card points and travel rewards.

To rank the states, RewardExpert considered a composite score obtained from FBI Internet Crime Complaint Center’s 2016 annual state-by-state report, FTC’s Consumer Sentinel Report for 2016 and 2015, and complaints filed with the Consumer Finance Protection Bureau.

From 2015 to 2016, credit card fraud registered a 5.15% increase across the US, the report says. However, the frauds were not found to be correlated to per capita income but were strongly associated with average credit scores.

RewardExpert CEO and co-founder Roman Shteyn said: “After the Equifax security breach, the whole country became gravely concerned about the security of their financial and personal information. However, events such as these take place on a smaller scale almost daily.

“The integral role of the internet in today’s society exposes all of us to risk, especially when it comes to our bank accounts, credit cards, and our credit histories.

“This report determines in which states your risk of becoming a victim is the highest, and in which states you are at relatively lower risk.”

California and New Mexico followed Nevada as the high risk states, while Iowa, South Dakota and Wyoming were found to be least at-risk regions.

Shteyn urged residents of the most at-risk states to take extra precautions such as review of card statements for suspicious activity to protect their financial and sensitive information.

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