Research shows consumers have experienced a surge of credit card fraud in 2020, and much of it can be attributed to scams related to COVID-19. According to Fidelity National Information Services, the dollar volume of attempted fraudulent transactions rose 35% in April 2020 compared to the same time in 2019.
In a survey about the coronavirus’s impact on fraud, the credit reporting bureau Experian found:
- Sixteen percent of respondents reported fraudulent emails or calls related to COVID and 55% were aware of a scam related to the deadly pandemic, as fraudsters sought to take advantage of the crisis.
- However, 33% reported increased online shopping, and 52% said they were somewhat, very or extremely worried their bank account information could be stolen while shopping online.
- But surprisingly, 30% of those surveyed said they were shopping online less since the onset of the COVID-19 crisis.