Online shopping has surged during the pandemic, so have credit card and e-commerce frauds. For the first time, Taiwan has been listed as the location with most rampant credit card fraud cases, after Ireland and the U.S. According to the National Credit Card Center show, the value of credit card fraud from January to May 2021 was over NT$600 million, which was NT$100 million more compared to the same period last year.
The COVID-19 pandemic has changed people's lives, including their shopping habits. Statistics compiled by the National Credit Card Center show that the number of Internet fraud cases increased after the pandemic started. The total value of credit card fraud for the period from January to May 2021 was NT$629 million, which was about NT$100 million more than the NT$518 million defrauded in the same period in 2020. The value and proportion of e-commerce fraud both increased.
Huang Kuo-hung, Dep. General Manager, National Credit Card Center:”When we talk about non-face-to-face fraud, we're traditionally referring to EC (e-commerce) fraud. These cases accounted for about 98.5 percent of the total value. In the same period last year, they accounted for only 93.8 percent. They also now account for the absolute majority of the bank notifications. This phenomenon has increased during the pandemic.”
The top five locations where the credit card fraud was committed were Ireland, the US, Taiwan, the UK, and Singapore. This was the first time that Taiwan had entered the top three, a huge warning sign. Emails and text messages are the most common methods used to get personal information.
Kuo Yu-chih, Captain, 2nd Brigade, 7th Investigation Corp, CIB:”Victims received texts from unknown senders and clicked links. They mistakenly thought they were accessing a real vaccine website and entered their personal identification number, account number, and password. These websites were created by criminal suspects to capture personal information.”
The National Credit Card Center also found cases of fraud involving purchases or donations of disease prevention products. Some criminal suspects exploited vulnerabilities in store websites. They tested credit cards and then used them fraudulently after gaining related personal information