Statistics Show The 15 Most Popular Things Purchased With Stolen Credit Cards
In modern times, most people use convenient credit cards instead of carrying around piles of cash. Unfortunately, if credit card data is stolen, then thieves can have access to all of your funds. Credit card theft and fraud continue to be on the rise, and data breaches have increased by 46% since last year. Massive retailers, including eBay and Target, have had their information was stolen, which gave thieves access to millions of customers’ credit cards.
Scammers have many different ways of stealing mass amounts of credit card information, which is then sold to people who use the card information to buy things for themselves. Credit card thieves can be very smart, and they often use stolen credit cards on holidays, when they know their victims will be busy. Rates of fraud rise by over 200% on Christmas Day and Christmas Eve.
Though this can be very concerning and scary, the Consumer Protection Act says that you will not be liable for fraudulent charges as long as you report the issue within 60 days of getting your credit card statement. Therefore, it is important to go over your statement and examine any unusual charges. It turns out that credit card thieves are more likely to buy certain items. Here are the 15 items which credit card thieves most commonly buy.
RELATED ARTICLE: THE 10 MOST STOLEN CARS IN THE UNITED STATES
1. Rolex watches
2. Louis Vuitton purses
3. Diamond rings
6. Cases for cell phones, tablets, and laptops
7. Gift cards for Best Buy and iTunes
8. World of Warcraft gold
9. Website hosting services
10. The web and graphic design
11. Search engine optimization
12. Coupons for Facebook advertisements
14. Red Bull energy drinks
15. Luxury hotel rooms
Rolexes, Louis Vuitton handbags, and diamond rings are all luxury items that are easy to resell at a high price. Digital products, such as gift cards and video game currency, are also convenient to sell.This allows thieves to make real cash from stolen credit cards, which they can then easily hide in legitimate bank accounts.
Thieves who mostly deal with digital data are technologically inclined, so it is no surprise that they often want to treat themselves to fancy electronics, such as smartwatches, Macbooks, and cases for electronic devices. Facebook advertisements, website hosts, and search engine optimization are also linked to the technological trend. Often, the people capable of stealing credit card information from electronic sources are also attempting to create legitimate-appearing online companies that can be used to scam more people. It is rather interesting to see pizza, energy drinks, and luxury hotel rooms on the list, but it can be assumed that credit card thieves want to cut loose and have some fun after a caper.
This list of items provides valuable insight into the type of people who commit credit card fraud. If you notice any of these items on your credit card statement and cannot remember buying them, it is important to contact your credit card company as soon as possible.