The number of known credit card frauds increased twentyfold In the past five years

In the past five years, the number of known credit card fraud cases in the world has increased approximately twentyfold – Hungary’s cyber coordinator told M1 news channel on Thursday.

Rajnai Zoltán said that this amount is currently 1,000 billion USD.
90-95 percent of Internet fraud is caused by human negligence, because many people give inaccurate information or keep their PIN along with their credit card – he said.

According to the cyber coordinator, the strong customer identification required for online payment, which requires confirmation of the purchase via SMS code, will reduce fraud. (MTI)