EMV Chips Do Nothing To Stem Tide of Identity Fraud As Thieves Move Online; Record Losses And Number Effected in 2016

``Despite widespread efforts to fight this crime wave, the crooks successfully netted two million more victims and stole $16 billion dollars, a nearly billion dollar year-to-year increase. And remember, we all pay for that loss in the form of higher prices and interest rates... Another big change in the fraud landscape is the significant increase in card-not-present (CNP) fraud that took place last year, as criminals used stolen credit and debit card numbers to buy things online or over the phone. CNP fraud jumped 40 percent, while point-of-sale fraud remained essentially unchanged.''