Credit Card Fraud Alerts Rise

This is a news story, published by CNBC, that relates primarily to Experian news.

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credit card fraud alerts

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fraud alerts

CNBC

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Why credit card fraud alerts are rising, and how worried you should be about them

Summary

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81% Informative

New shopping patterns, spending on big-ticket items, and lack of use of monitoring services, purchase limits, biometric security, advanced password protection, and credit freezes, can all result in a higher rate of fraud alerts.

About 60% of credit card holders in 2023 experienced some sort of attempted fraud, Experian says.

Mastercard says it's observed on average a 20% increase in its ability to detect fraud thanks to AI .

Experian: Data breaches may turn up the dial on fraud alerts, but changes in shopping patterns are guaranteed to set off red flags.

MasterCard said multiple transactions quickly in a row will always alert their systems.

Freezing your credit file, using a password manager and using two -factor authentication for your financial accounts can also be beneficial.

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informal

Language

English