Equifax Data Breach

New York Consumer Law Blog

Monday, April 3, 2017

Data breaches cause an increase in credit card fraud

Experian says that the biggest component of credit card fraud trends is the fact that 2016 was a record year for data breaches. There were 1,093 breaches, a 40% increase from 2015, according to the Identity Theft Resource Center. 

Meanwhile, the Federal Trade Commission recently revealed a jump in consumers who reported that their stolen data was used for credit card fraud, from 16% in 2015 to more than 32% in 2016. 

The record number of data breaches is a signal that future fraudulent activities will take place, warns Experian.

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