How Data Breaches Increase Card Spinning and Credit Card Fraud
Lately, it seems like data breaches are a common occurrence. There’s hardly a quarter that goes by without some large company reporting a major breach of sensitive cardholder or personal data. As a consumer, there’s an understandable feeling of anxiety and stress whenever a new breach is announced as their fear and risk of identify and credit card theft increases. But what about the merchants who accept credit cards? They might have even more reason to fear these kinds of breaches. The fact is, data breaches increase identify theft, card spinning, credit card fraud, and other types of nefarious fraudulent activities.