Roughly half of all global credit card fraud occurs in the U.S. even though the country makes up only about a quarter of all credit card transactions, according to a report by Barclays earlier this month. In part, that’s because a 50-year-old technology that relies on a magnetic stripe at the back of the card, has lingered in the U.S. despite being replaced in most of the world.
ABC’s Scott Goldberg joined us from New York City.