CAD$407,729,739 Loss in Canadian Credit Card Fraud for 2008

For the year ending December 2008, CAD$407,729,739 loss to credit card fraud has been reported in Canada, involving 450,322 Canadian issued cards. This is an average loss of CAD$905.42 per account.

Counterfeit cards is the main culprit in terms of dollar volume with CAD$196,653,970 loss involving 158,503 accounts.

Whereas fraudulent e-commerce, telephone and mail purchases has reported the highest numbers of cases, involving 210,430 accounts with CAD$128,362,477 loss in value… more interesting facts on Canada credit cards fraud statistics can be found here

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