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US identity fraud ‘doubles’ after EMV switch

5th February 2016 Church News.

The 2016 Identity Fraud Study released by Javelin Strategy & Research has revealed that the number of identity fraud victims in the US has increased, but the total amount of money stolen has decreased. Most notably, the study found that the number of new account frauds had doubled since the switch to EMV, but that consumers who did not trust their financial institutions were leaving themselves more vulnerable to fraud.