I come from a country where most people don’t have a credit card.
I cannot wrap my head around [this](https://m.youtube.com/watch?v=vmh3_nSR1jU) documentary.
Now I get that credit card fraud *is* a big problem.
But if all you need is the card number to order stuff, and card numbers are so easy to come by as shown in the documentary, then why is not every single criminal in the US running a credit card fraud operation?
It seems super easy and low risk. Get a burner device, order stuff from public wifi, and don’t be stupid about the delivery locations.
In: 548
Credit card fraud loss to banks runs about 7 basis points which is less than 1/10th of a percent of the total volume. But banks make 1% interchange (sometimes more) so they make more off the interchange they collect than the fraud they experience. They also push about 50% of their losses back to the merchants so they are not liable.
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