Retailers that have completed their EMV chip card technology upgrades have seen counterfeit fraud drop 76 percent from the end of 2015 to the end of 2017, according to new figures released today by Visa.

ABA and six other financial trade organizations wrote to House leaders today underscoring the need for businesses across all industries to be held to the same data protection and breach notification standards currently adhered to by regulated financial institutions.

As retailers nationwide continue to transition to chip card technology, those who have completed their upgrades have noticed a significant decline in counterfeit fraud, according to a new infographic by Visa.

The nation’s banks stopped nearly $17 billion in fraudulent transactions in 2016 -- a figure that represents a substantial increase since 2014 in attempted fraud, when the industry stopped $11 billion -- according to ABA’s 2017 Deposit Account Fraud Survey Report released today.

Credit card payments grew significantly in 2016, increasing 10.2 percent to total 37.3 billion, according to new data from the Federal Reserve today.

To help bankers educate lawmakers, customers and the public about the growing security benefits of the switch to EMV chip technology in cards, ABA is today releasing a new infographic showing that consumers are “unquestionably safer” than before EMV’s widespread adoption.

More than 144 billion noncash payments -- those made with debit or credit cards, ACH and checks -- were made in the U.S. between 2012 and 2015, totaling nearly $178 trillion, the Federal Reserve reported today in its triennial payments study.

In the wake of the decision by Visa and MasterCard to delay the EMV chip card liability shift for gas pumps until 2020, a new advisory emphasizes that cyber thieves are focusing on retailers who have not upgraded their systems.