Credit-card thieves move online as chips thwart in-store fraud.
The adoption of credit-card chip technology by U.S. retailers is having an unintended consequence: Criminals are moving from brick-and-mortar stores to the Internet.
That’s forcing merchants to spend billions on online fraud protection in an effort to detect when a crook is using someone else’s card number.
Fueling the surge in interest are an increasing number of data breaches at companies ranging from Target Corp. to Wendy’s Co., which potentially exposed private financial information from millions of customers to identity thieves. U.S. government agencies and companies suffered record 1,093 data breaches last year, up 40 percent from 2015, according to the Identity Theft Resource Center in San Diego. ... See MoreSee Less
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