Is Gas Pump Credit Card Fraud Growing?

Gas Pump Credit Card Fraud Article

In a September 3, 2015, article, the Wall Street Journal highlights the gas stations are at increased risk of gas pump credit card fraud once EMV is implemented in most other retailers. “That delay (between in-store EMV implementation and implementation of EMV at the gas pump) could exacerbate what analysts, card companies, and law-enforcement officials say has been a recent surge in fraud at the (gas) pump.” (WSJ, September 18, 2015).

“Their (credit card thieves) technology keeps improving year after year,” says Steven Scarince, a U.S. Secret Service agent in Los Angeles. “Boy, are we busy.”

The article states that gas stations are victimized to the extent of over $250 Million in fuel related and credit cards fraud, and perhaps as much as $500 Million annually. New technology introduced by Visa and Mastercard has reduced fraud by 23% at Chevron Corp. sites where it is deployed.

For more details, please see this Wall Street Journal Story -Credit-Card Fraudsters Pump Gas Stations for Profit. Payment card companies and gas-station operators combat a wave of theft