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
I have worked for a few major US banks and they calculated around 50 million dollars in loss due to fraud for 2022. And I don’t think that’s including the money they pay their fraud prevention teams that stop a lot of losses as well. So overall it’s part of the budget sadly and also there are a fair amount of preventative measures in place to stop potential fraudulent transactions etc.
Latest Answers