Visa report highlights emerging scams targeting consumers and travelers [Video]

A new report from Visa sheds light on emerging scams targeting consumers and travelers, which have included new twists on old tactics for defrauding victims.

Visa’s “State of Scams: Fall 2024 Biannual Threats Report” found that there has been a resurgence in physical theft in the last six months, with criminals buying gift cards or physical products using stolen payment info that can be resold, or using the card number for money transfers.

A new style of physical theft, known as “digital pickpocketing,” has also become increasingly common in the past year, according to the report. Scammers carry out the theft using a mobile point-of-sale device, which they tap against the wallet of an unsuspecting consumer to initiate a payment, often in crowded areas where the contact may be unnoticed.

Michael Jabbara, SVP and global head of fraud services at Visa, told FOX Business that, “Consumers should guard against digital pickpocketing by being aware of their surroundings. Much like old-school pickpockets, criminals prey on those who are distracted by …