42 charge card scams data in 2022 + steps for reporting scams

Smart Wealth MentorJun 1, 2025

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Disclosure concerning our editorial material requirements. Each year, millions of Americans are victimized by charge card scams that typically ends up costing them thousands of dollars. Which's not to mention their carefully curated credit history and even their identities. In a post-pandemic world, more customers have actually made the switch to online and contactless kinds of payment, with cybercriminals increase efforts and ending up being more creative in stealing details.

If you own and regularly utilize a credit or debit card, there is an opportunity you may discover yourself a victim of credit card fraud at some time in your monetary life time. Here are 44 sobering charge card scams statistics that can help you be much better notified to secure yourself (and your credit) from future possibilities of scams.

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What is credit card fraud?

Charge card scams is when someone who is not authorized to use your credit card or account details makes purchases you didn't authorize. In the past, credit card fraud typically happened as an outcome of taken or lost cards. Nevertheless, with a major shift to online purchases recently, online credit card fraud has actually become significantly prevalent.

According to the Federal Trade Commission, charge card scams represented the second most typically reported type of identity theft in 2020. Continue reading to get more information about charge card scams stats.

Secret charge card scams stats

Charge card fraud is more typical than you may think. Below are statistics on simply how prevalent this kind of fraud is, followed by details on the most typical kinds of credit card fraud reported and just how much is normally lost in fraud.

1. There were over 459,297 reports of charge card fraud in 2020, which includes combined circumstances of charge card scams and identity theft(Federal Trade Commission). 2. Research recommends that 86 percent of consumers were the victim of some sort of credit or debit card scams, identity theft ordata breach in 2020, up 6 percent from the previous year( J.P. Morgan ). 3. 34 percent of all scams reports in 2020 resulted in cash lost (Federal Trade Commission). 4. In 2020, over 4.7 million reports of scams were taped, a boost from the number reported in 2019(Federal Trade Commission). 5. There were 191,242 fraud reports associated with COVID-19 and federal stimulus payments as of July 2020 (Federal Trade Commission).

6. People age 70 or older reported much higher median scams losses than any other group in 2020(Federal Trade Commission). 7. 77 percent of organizations reported being a victim of some type of scams through digital payments(American Express Insights). 8. Reported credit card fraud to brand-new accounts experienced a 48 percent boost from 2019 to 2020(Federal Trade Commission). 9. In 2020, the states with the highest per capita rates of reported fraud were Delaware, Florida, Georgia, Maryland and Nevada(Federal Trade Commission). Credit card fraud loss stats 10. Credit card fraud losses in 2020 added up to an overall of

$149 million(Federal Trade Commission). 11. The mean amount of cash lost to charge card scams in 2020 was $311(Federal Trade Commission). 12. Worldwide, companies are expected to lose$75 billion to e-commerce fraud from 2019 to 2023(Cybersource). 13. Consumers in 2020 reported losing over$3.3 billion to fraud,

an increase of $1.5 billion from 2019 (Federal Trade Commission ). 14. Of those overall scams reports in 2020, just 373,423 cases had actually a plainly recognized payment technique(Federal Trade Commission). 15. Almost$1.2 million was reported lost in imposter frauds by customers in 2020(Federal Trade Commission). 16. The most commonly reported card fraud loss in 2020 remained in the amounts of$1 to$100, with over 227,000 reports(Federal Trade Commission). 17. The overall number offraud occurrences fell between 2019 and 2020, from 5.7 percent of consumers reporting scams in 2019 to 5.1 reporting in 2020(Javelin Strategy).18. Consumers suffered an$850 average loss to imposter frauds in 2020(Federal Trade Commission). 19. The least typically reported card fraud loss in 2020 remained in the quantities of$ 8,001 to$9,000, with under 3,500 reports (Federal Trade Commission). 20. Each dollar of consumer scams costs retailers$3.13(Retail Dive). Most typical kinds of credit card fraud 21. Charge card scams accounted for 1.4 percent of all scams reported in 2020 (Federal Trade Commission). 22. In 2020, card-present scams in the U.S. was down by 82 percent from 2019(Cybersource). 23. 53 percent of consumers report that they have been fraud victims during digital payments(American Express Insights).

24. In 2020, new credit card accounts experienced the most fraud at 365,597 reports.Existing accounts just included 33,852

reports(Federal Trade Commission ). 25. However, scams on existing charge card accounts was likewise widespread in 2020, with over 33,800 cases reported(Federal Trade Commission). 26. Telephone was the contact approach for 31 percent of card fraud reports in 2020 that determined a contact

method(Federal Trade Commission). 27. Bank transfers and payments represented the highest aggregate losses in 2020, at$314 million(Federal

Trade Commission). 28. In 2020, credit cards were most frequently identified as the payment approach in scams reports(Federal Trade Commission). Identity theft statistics Credit card fraud is actually a subset of identity theft, and a popular one at that. To keep you informed on this serious topic, here are data related to the frequency of identity theft. 29. Identity theft was the most typical type of fraud reported in 2020, with over 1.4 million reports(Federal Trade Commission). 30. In truth, identity theft from charge card scams increased in 2020, up 44.6 percent compared to 2019( Federal Trade Commission). 31. Identity theft was most frequently reported among adults ages 30-39 (Federal Trade Commission). 32. Older demographics, 80 years and older, reported the least amount of identity theft at just 9,915 reports(Federal Trade Commission). 33. Identity theft accounted for 29.4 percent of all fraud reports in 2020 (Federal Trade Commission). 34. Existing charge card accounts were a typical target of identity theft with over 33,000 cases in 2020(Federal Trade Commission). 35. Government files or advantages fraud was the most typical type of identity theft reported in 2020(Federal Trade Commission). 36. The states with the highest identity theft reports in 2020 were California, Illinois, Texas, Florida and Georgia(Federal Trade Commission

37. The top metropolitan areas for identity theft in 2020 consisted of: Topeka, Kansas; Lawrence, Kansas; Wichita, Kansas; Manhattan, Kansas; and Tuscaloosa, Alabama(Federal Trade Commission). 38. Around 7 to 10 percent of individuals in the U.S. are victims of identity theft each year(National Center for Victim Research Study

). 39. There were over 737,000 more reported cases of identity theft in 2020 than in 2019, an over 200 percent boost(Federal Trade Commission). 40. The leading 5 reported kinds of identity theft are federal government documents or advantages scams, credit card scams, other identity theft, loan or lease fraud

and work or tax-related scams (Federal Trade Commission ). 41. Approximately 19 percent of U.S. residents will experience at least one incident of identity theft in their life time(Center for Victim Research Study). 42. Bank fraud was the least typically reported kind of

identity theft in 2020( Federal Trade Commission). Actions for reporting scams As you can see from the above stats, charge card fraud and identity theft can be both common and disastrous. It is necessary to arm yourself with understanding so you can better secure yourself and your enjoyed ones from prospective scams and losses. 1. Alert your credit card company Your primary step must always be to alert the credit card business that you hold the card with, which can quickly be done by calling your credit card's fraud department and describing the situation. This should be done as soon as you presume fraud so the charge card company can freeze your account and avoid any additional charges. 2. Report fraud to the FTC Credit card scams and identity theft reports can be submitted online with the FTC. Officiallyreporting fraud with the FTCdevelops proof that you're a victim and allows you certain rights. When filing fraud with the FTC, you'll also be provided a healing strategy, so it is necessary to be as detailed as possible in your fraud or identity theft report. 3. Notify the authorities of identity theft In addition to filing a report with the FTC, it can also be helpful for

your case to submit a report with your regional authorities department. When reporting identity theft to the authorities, you'll need to bring a government-issued ID, evidence of address, a copy of your report with the FTC and evidence of theft. 4. Set up fraud alerts Even if you don't think charge card fraud, you should have scams notifies set up onall your

credit card accounts as a precautionary approach. This not just gives you comfort however it needs that possible lenders take additional preventative measures to confirm your identity when extending your credit limits. To read more about how to keep your hard-earned cash in your wallet where it belongs, have a look at these extra resources on monetary security: Charge card fraud and identity theft can not just be time-consuming issues to fix, butthey can likewise be dangerous for the possible repercussions down the roadway. In addition to lost money and a messed up credit rating, your total security and security are threatened. Doing what you can to arm yourself with understanding and