Old-School Card Scams Still Cost Billions

Physical credit card scams are surging across Portugal, France and Germany, where criminals mail fake replacement cards with QR codes that lead to phishing sites. In Alabama, two Romanian nationals were indicted last week for skimming SNAP benefits from magnetic-stripe EBT cards. US skimmer fraud losses exceed $1 billion annually, and Mastercard will stop issuing stripe cards in 2029.