Credit Card Fraud Statistics 2025: Essential Data and Prevention Tips

Imagine this: you’re sitting at a coffee shop, enjoying a latte, and casually checking your email. Suddenly, a notification pops up—your credit card has been charged $500 for something you didn’t buy. Scenarios like this are becoming alarmingly common. Credit card fraud is a modern menace, evolving with every technological advancement. In this article, we dive deep into the latest statistics, trends, and insights for 2025, giving you the knowledge you need to protect yourself and your finances.

Editor’s Choice: Key Credit Card Fraud Statistics

$32 billion in credit card fraud losses is projected globally for 2024, up from $30 billion in 2023.
Approximately 47% of Americans have experienced credit card fraud at least once, making the US one of the hardest-hit regions.
Card-not-present fraud continues to dominate, accounting for 72% of all fraud cases globally.
EMV chip technology has significantly reduced in-person fraud by 38%, but online fraud has surged.
The millennial demographic is the most targeted group, with 37% falling victim to fraud in 2023.
Data breaches exposed over 150 million credit card details in the last year, escalating fraud risks.

Rising Fraud Risks Amid Massive Data Breaches

Merchant losses from credit card fraud in the US reached $6.8 billion in 2023, with online retailers being the primary victims.

Prevalence of Credit Card Fraud

Credit card fraud accounts for nearly 35% of all identity theft complaints reported to the Federal Trade Commission (FTC).
Every 16 seconds, a fraudulent credit card transaction occurs globally.
The US leads the world in credit card fraud losses, with $12.5 billion in 2023 alone.
Remote purchases or card-not-present transactions contributed to 78% of fraud losses in the US.
Over 65% of victims discover fraud through alerts or statements rather than real-time monitoring.
Emerging markets like India and Brazil saw a 21% increase in credit card fraud cases in the last year due to rising digital payments.
The use of dark web marketplaces for selling stolen credit card information surged by 29% in 2023.

Metric	Value
Identity theft complaints from credit card fraud (FTC)	35%
Frequency of global fraudulent transactions	Every 16 seconds
US credit card fraud losses (2023)	$12.5 billion
Remote/card-not-present transactions (US fraud loss share)	78%
Victims discovering fraud through alerts	65%
Increase in fraud cases (India & Brazil)	21%
Dark web surge in stolen card data (2023)	29%

Types of Credit Card Fraud

Card-not-present fraud (CNP) remains the most common, accounting for 79% of cases, often tied to e-commerce.
Counterfeit credit cards, though declining due to EMV chip adoption, still account for 12% of fraud.
Lost and stolen cards are responsible for 7% of fraud cases globally.
Synthetic identity fraud—where fake identities are created—rose by 24%, costing over $6 billion worldwide in 2023.
Account takeovers doubled in the past year, with fraudsters using stolen credentials to gain access to victims’ accounts.
Fraudulent applications for new credit cards increased by 18%, especially during the holiday season.
Social engineering scams, such as phishing, tricked over 15% of victims into sharing sensitive credit card details.

Trends in Payment Fraud and Emerging Security Challenges

Demographic Analysis of Victims

Millennials (25-40 years old) are the most targeted demographic, making up 37% of fraud victims in 2023.
Victims aged 60 and above reported the highest average financial losses, amounting to $1,200 per incident.
Low-income households experience disproportionately higher rates of fraud due to a lack of access to advanced fraud prevention tools.
Women are slightly more likely to fall victim to phishing scams, with 53% of reported cases involving female users.
Fraudsters increasingly target college students, leading to a 28% rise in cases among individuals aged 18-24.
Victims in urban areas report 40% more incidents than those in rural locations, largely due to higher online shopping activity.
Small business owners account for 15% of credit card fraud victims, with business-related expenses being exploited.

Demographic Group	Key Insights
Millennials (25-40)	37% of victims
Age 60+	$1,200 avg. loss
Low-income households	Higher fraud rates
Women	53% of phishing scams
College students (18-24)	+28% fraud cases
Urban residents	40% higher fraud
Small business owners	15% of victims

Credit Card Fraud by Age

Young adults (18-24) are the fastest-growing group of fraud victims, with a 33% year-over-year increase.
Adults aged 35-44 experience the highest fraud incidence rates, with 47% of individuals in this bracket affected.
Individuals aged 45-54 reported a 22% rise in card-not-present fraud cases over the last year.
Fraud among the 55-64 age group is on the decline, with a 12% drop, attributed to increased adoption of fraud protection tools.
Teenagers (13-17) are becoming new targets due to the rise in parental credit card sharing for online transactions.
Seniors aged 65+ often fall victim to telephone-based credit card scams, accounting for 29% of cases in this demographic.

Protecting Seniors from Rising Telephone Credit Card Scams

Fraud-related financial losses for seniors were estimated at $3 billion in 2023, representing 25% of total losses.

Credit Card Fraud by State

California leads the US in reported credit card fraud cases, with over 75,000 incidents in 2023.
Florida ranks second, with 62,000 cases, driven by high levels of tourism and online purchases.
States with the fastest-growing fraud rates include Texas (18%) and Nevada (23%).
New York recorded the highest financial losses, averaging $1,800 per incident.
States with low fraud rates, such as Wyoming and Vermont, report less than 5,000 cases annually.
Online fraud in Washington, D.C., surged by 38% due to increased remote work and digital payments.
Illinois reported a 15% year-over-year decrease in fraud cases, linked to statewide adoption of advanced security technologies.

State	Key Insights
California	75,000 cases (2023)
Florida	62,000 cases
Texas	+18% fraud growth
Nevada	+23% fraud growth
New York	$1,800 avg. loss
Wyoming/Vermont	<5,000 cases/year
Washington, D.C.	+38% online fraud
Illinois	-15% YoY fraud cases

Financial Impact of Credit Card Fraud

Global losses from credit card fraud are expected to hit $32 billion in 2024, a 6.7% increase from 2023.
In the US alone, financial institutions spent over $8 billion combating fraud in 2023, including chargebacks and security upgrades.
Businesses incur additional costs of up to $4 for every $1 lost due to fraud, factoring in operational and reputational damage.
E-commerce platforms lose an average of $5.65 billion annually to card-not-present fraud.
Fraud-related chargebacks have surged by 19% in the past year, significantly affecting small businesses.
Credit card fraud accounts for 47% of total financial crime losses globally, outpacing check and wire fraud.
Insurance companies covering fraud claims have seen a 14% rise in payouts, particularly for online retail merchants.

U.S. Merchant Losses From Online Fraud

US merchants lost approximately $6.8 billion in 2023 to online fraud, a figure projected to climb to $7.5 billion in 2024.
Fraudsters exploit vulnerabilities in buy now, pay later (BNPL) systems, leading to losses of over $500 million annually.
Travel and hospitality industries account for 22% of online merchant losses, driven by fraudulent bookings and cancellations.
Mobile commerce transactions see 25% higher fraud rates than desktop transactions.
Subscription-based services, such as streaming platforms, reported a 21% surge in fraud-related chargebacks in 2023.
Fraud detection tools are becoming essential, with 83% of merchants investing in AI-based solutions in the past year.
Small retailers experience fraud at twice the rate of large enterprises due to limited security infrastructure.

Annual Global Fraud Losses (Credit & Debit Cards)

Annual global fraud losses on credit and debit cards are projected to reach $40 billion in 2024, up from $38 billion in 2023.
The Asia-Pacific region reported a 14% increase in fraud losses, largely due to the growing adoption of digital payment.
Europe saw a 10% decline in fraud losses, attributed to stringent security measures like Strong Customer Authentication (SCA).
North America continues to lead in absolute losses, accounting for 42% of global fraud cases.
Latin America reported $3 billion in fraud losses, driven by rapid growth in e-commerce and mobile payments.
Fraud tied to cross-border transactions increased by 18%, especially for international online retailers.
Debit card fraud, though less common, accounts for $7.5 billion of global losses annually.

Largest U.S. Data Breaches Exposing Credit Card Information

The 2023 MoveIt data breach exposed over 40 million credit card numbers, making it the largest breach of the year.

MoveIt 2023's Largest Data Breach and Its Impact on Credit Card Security

A hospitality chain breach in 2023 led to the theft of 17 million card records, affecting multiple hotel brands.
The Capital One data breach, though dating back to 2019, continues to impact victims due to the lingering use of stolen card details.
In 2024, an estimated 12 million records are expected to be compromised through targeted phishing campaigns.
Cyberattacks on point-of-sale (POS) systems increased by 26%, especially in the restaurant industry.
Dark web marketplaces saw a 32% surge in the sale of US-based credit card information in 2023.
Companies reporting breaches in 2023 faced average fines and settlements of $4.1 million per incident.

Prevention and Protection Measures

Adoption of two-factor authentication (2FA) has reduced fraudulent transactions by 37% for participating businesses.
Tokenization technology is helping secure card-not-present transactions, with 70% adoption among US retailers.
Consumers who monitor their accounts regularly are 50% less likely to suffer financial losses from fraud.
Payment systems using AI-driven fraud detection tools prevented over $10 billion in potential fraud in 2023.
Virtual credit cards, offering one-time-use numbers, are gaining traction as a secure payment method.
Awareness campaigns launched in 2023 have increased fraud reporting rates by 24% among US consumers.
The use of biometric authentication—fingerprint and facial recognition—has grown by 18%, significantly reducing fraud risks.

Recent Developments

Buy now, pay later (BNPL) services are introducing stricter identity verification measures following fraud spikes.
Major credit card companies, like Visa and Mastercard, are rolling out advanced AI-based fraud detection tools in 2024.
Legislation in the US is pushing for mandatory real-time fraud reporting by financial institutions.
A record $20 million investment into consumer fraud education programs is expected to launch this year.
The rise of blockchain technology is enabling more secure peer-to-peer credit card transactions.
Cross-industry collaborations, including tech firms and banks, aim to combat synthetic identity fraud through shared databases.
Consumer awareness tools, such as real-time spending notifications, are now offered by 95% of US card issuers.

Conclusion

The fight against credit card fraud remains a critical challenge as fraudsters adapt to evolving technologies. The data highlights the need for robust security measures, both at the consumer and institutional levels. With global fraud losses reaching $32 billion in 2024, the stakes are higher than ever. While advancements like AI-driven tools and biometric authentication are encouraging, constant vigilance and innovation are essential. Together, informed consumers and proactive businesses can combat this growing threat effectively.

Sources

Barry Elad is a dedicated tech and finance enthusiast, passionate about making technology and fintech concepts accessible to everyone. He specializes in collecting key statistics and breaking down complex information, focusing on the benefits that software and financial tools bring to everyday life. Figuring out how software works and sharing its value with users is his favorite pastime. When he's not analyzing apps or programs, Barry enjoys creating healthy recipes, practicing yoga, meditating, and spending time in nature with his child. His mission is to simplify finance and tech insights to help people make informed decisions.