Credit Card Fraud: 2024 Update
11/13/24 • 31 min
Credit card fraud is on the rise, but not in the usual way: hackers are cobbling together synthetic accounts from real and fake names, addresses, social security numbers, and credit histories. Children's social security numbers are particularly at risk. Find out how it all works, and what you can do to help prevent synthetic account fraud, and help with inflation in the process.
Resources
- FBI: Combating Threats in the Cyberworld
- LawPay: Guide to Securely Storing Credit Card Information
- How Can Someone Use My Credit Card Without Having It? A Complete Guide to Theft Prevention
- Motley Fool: Identity Theft and Credit Card Fraud Statistics for 2024
- Mastercard: What is Synthetic Identity Fraud?
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Credit card fraud is on the rise, but not in the usual way: hackers are cobbling together synthetic accounts from real and fake names, addresses, social security numbers, and credit histories. Children's social security numbers are particularly at risk. Find out how it all works, and what you can do to help prevent synthetic account fraud, and help with inflation in the process.
Resources
- FBI: Combating Threats in the Cyberworld
- LawPay: Guide to Securely Storing Credit Card Information
- How Can Someone Use My Credit Card Without Having It? A Complete Guide to Theft Prevention
- Motley Fool: Identity Theft and Credit Card Fraud Statistics for 2024
- Mastercard: What is Synthetic Identity Fraud?
Can't keep up with AI? We've got you. Everyday AI helps you keep up and get ahead.
Listen on: Apple Podcasts Spotify
Join our Patreon to listen ad-free!
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How Hacks Happen - Credit Card Fraud: 2024 Update
Transcript
Hey folks, in this episode we’re going to revisit the topic of credit cards. I did an episode on credit card fraud in an earlier season, namely Season 1, Episode 3. This has been by far the most listened-to episode in the entire history of How Hacks Happen, but it was three years ago, and the threat landscape has changed in some pretty significant ways. So I thought it would be worth visiting the subject again.
So let’s take a look at credit card fraud, and what the current threats a
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