Technology Advisor Blog

Did you know that 28% of consumers have fallen victim to credit card fraud in the last year? With nearly a third of people affected, it’s no surprise that 37% report feeling anxious about their credit card accounts being compromised. Families and career-driven individuals are especially on edge, with Gen X and Millennials (40%) sharing equally high levels of concern.

When fraud strikes, most consumers don’t immediately switch banks or abandon their financial institutions. Instead, they freeze their card or request a replacement, actions that are less disruptive, but still unsettling. With the rise of advanced technology, scammers have gotten alarmingly more creative and aiming where you would least expect.

The New Twist: Fraud on a Card You Haven’t Even Received Yet

Imagine this: You’ve ordered a replacement credit card, and before it even arrives in the mail, charges start appearing. How is this even possible?

Cybercriminals no longer need physical access to your card to make fraudulent purchases. Thanks to data breaches, phishing scams, and card-not-present fraud, digital theft is the new norm. With your personal data exposed, fraudsters can add your card to Apple Pay or Google Wallet, or make online purchases all without you ever losing physical possession of the card.

That’s because when your bank account information is compromised, it opens the door for a host of other threats: instant digital wallet access, online subscriptions, or sneaky purchases that blend in with your regular spending.

While banks and card issuers recognize the growing issue, 82% of banks and credit card networks accept responsibility for fraud resolution. Understandably so, the fallout can still be stressful and time-consuming for the cardholder.
If you have been affected by credit card fraud, it is strongly recommended to:

• Change your login credentials (passwords, PINs, security questions).
• Enable MFA on all your financial and email accounts.
• Use an identity theft protection service to monitor your personal data.
• Ask your credit card company to investigate and reissue your card.
• Report the fraud to the FTC and file a police report if needed.

When Cybercrime Hits Business: A Different Kind of Fraud Stress

Most of us have experienced or know someone who’s dealt with credit card fraud - but when fraud hits a business, it doesn’t just sting—it disrupts, derails, and damages. At Ekaru, we work with businesses who face their own version of this nightmare: cybercrime, scams, and unauthorized access to business accounts and systems.

The sinking feeling of seeing unexpected charges on a personal credit card? That’s the same kind of panic business owners feel when they realize they’ve fallen victim to a business email compromise, ransomware attack, or phishing scheme. The anxiety is real, and the impact can be even greater.

Many businesses say, “It’s never going to happen to me.” But cyberattacks don’t discriminate. If anything, they see smaller businesses as a prime target for this mindset they have picked up on from owners. Cybercriminals will exploit any organization that isn’t prepared.

You don’t have to handle the stress of cybercriminals alone. That’s where we come in. Think of us as your go-to ally in defending your digital assets.

How Ekaru Helps Businesses Prepare for and Respond to Cyber Threats

Transparently, while we don’t manage consumer credit card disputes, we do offer services that help small and local businesses prevent and respond to the types of cyberattacks that lead to fraud in the first place:

• Cybersecurity Awareness Training: Educate your team on how to recognize and avoid phishing scams and social engineering.
• Endpoint Protection & Antivirus Solutions: Keep business devices protected from spyware and keyloggers.
• Multifactor Authentication (MFA) Implementation: Secure accounts with an extra layer of login protection.
• Incident Response Planning: Prepare your team to respond quickly to threats and reduce downtime and damage.
• Dark Web Monitoring: Get alerts when business credentials or sensitive data are leaked online.

Cybercrime is evolving at an alarming and sophisticated rate. While banks are stepping up to deal with credit card fraud on the consumer side, businesses are often left to fend for themselves. Don’t wait for that gut-wrenching moment when your systems are compromised or your data is breached.

Whether you’re a small business owner or a growing enterprise, partnering with an MSP like Ekaru means you don’t have to go it alone. We’ll help you put the right defenses in place and stay ahead of cyber threats before they escalate into financial and reputational damage.

Schedule a free consultation to review your current security measures and learn how we can help protect your business. Your next step toward better security starts with a phone call.