There were 271,823 credit card fraud reports in the US in 2019. Only 12% of those involved existing accounts, and a whopping 88% involved new accounts, which shows a shift in trends. A shocking 72.4% increase in credit card fraud cases was recorded between 2018 and 2019. Losses resulting from credit card fraud reached $27.85 billion in 2018 and are projected to reach $40.63 billion by 2028.