A lot. If somebody spends money using your credit card, you aren’t out much and probably nothing – the credit card company, however, is. So they have a lot of incentive to make sure that your credit cards aren’t stolen. You need to try and do your part, of course, like having anti-virus protection on your computer and not leaving your wallet in your unlocked car where a thief might pass by.
All of the major credit card issuers, however, have been partnering with technological companies and employing artificial intelligence to come up with algorithms designed to detect credit card fraud.
Credit card companies are always working on new ways to prevent theft. The security code on the back of your card is one safeguard, and a popular method among some credit cards is to allow cardholders to use a lock feature that essentially turns off their credit card, so it can’t be used, unless the cardholder wants to turn it on and use it.
Many credit cards issuers also monitor the “dark web,” the part of the internet that isn’t indexed by search engines, like Google and Bing. That’s where crooks often sell stolen credit card numbers.
So you might understandably be concerned about credit card theft, but it’s the credit card executives and their tech teams who are likely losing sleep over this as laws are pretty explicit that the bank, not the cardholder, is on the hook for the lost funds in most cases.