Annual Payment Fraud Intelligence Report: 2023

In 2023, the payment fraud underground showed signs of recovery following Russian law enforcement's crackdown on domestic cybercriminals and the Russian invasion of Ukraine in 2022. The dark web carding shops saw a rebound in the volume of stolen payment cards, with 119 million cards posted for sale online. The median fraud charge was $79, resulting in $9.4 billion in preventable fraud losses for card issuers and $35 billion in potential chargeback fees for merchants and acquirers.

Fraudsters refined their …

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