Business Week: The Truth About Credit Card Fraud
Robert Berner and Adrienne Carter report for Business Week on credit card fraud.
Improved systems to detect bogus transactions have produced a decade-long decline in fraud as a percentage of overall dollar transactions. In 2004, illegal credit-card purchases totaled $788 million in the U.S., down from $882 million in 2003, according to Nilson Report, a trade publication. That represents just 4.7 cents for $100 worth of purchases, well down from a high of 15.7 cents in 1992.
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