The adoption of credit-card chip technology by US retailers is having an unintended consequence: Criminals are moving from brick-and-mortar stores to the Internet.
The use of stolen card data to pay for merchandise on websites, in mobile apps and by dialling call centres surged 40% last year, according to a report from Javelin Strategy & Research released Feb 1. That’s forcing merchants to spend billions on online fraud protection in an effort to detect when a crook is using someone else’s card number.
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