Elizabeth is a middle-age female who was planning to purchase a new spring wardrobe with her credit card. When she handed the salesperson her credit card, she was surprised to find out that it was denied. Elizabeth had no idea how this could possibly have happened. She has a $20,000 credit limit and currently has a zero balance. Elizabeth realized that a crime had been committed against her. Credit card fraud, such as what Elizabeth suffered, is responsible for merchant losses of _____ per year.

Question

Elizabeth is a middle-age female who was planning to purchase a new spring wardrobe with her credit card.  When she handed the salesperson her credit card, she was surprised to find out that it was denied.  Elizabeth had no idea how this could possibly have happened.  She has a $20,000 credit limit and currently has a zero balance.  Elizabeth realized that a crime had been committed against her. Credit card fraud, such as what Elizabeth suffered, is responsible for merchant losses of _____ per year.

Quizplus · Accepted Answer

Credit card fraud is a major problem for merchants, costing them billions of dollars each year.

Elizabeth Is a Middle-Age Female Who Was Planning to Purchase