Martin Meissner / AP

Nearly half of the fraud committed in 2016 was "card not present" (CNP) fraud; it was either committed online or in physical stores that don't have chip software activated yet. LifeLock reports overall fraud was up 18% last year, per the WSJ.

Wasn't chip technology supposed to make transactions more secure? Although it may take longer in store, chip technology brought losses from existing-card fraud down 30% from 2013 since chips are nearly impossible to clone. But 64% of storefront merchants still don't accept chips — that's because there have been massive delays in on-boarding retailers' software for the chip readers, since retailers and their hardware must be certified in a long queue, per CBS. Plus, after October 1 of 2015, the burden of paying for fraud costs transferred from financial institutions to the storefronts themselves.

Why it matters: Consumers are still bearing some hefty costs: identity theft and credit card theft cost 15.4 million consumers $16 billion in 2016 according to the study.

In the meantime, companies are investing in tokenization programs to protect information and combat cloning card fraud that comes from swiping cards (think Apple's Apple Wallet and MasterCard's Masterpass).

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Trump tightens screws on ByteDance to sell Tiktok

Illustration: Aïda Amer/Axios

President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 21,056,850 — Total deaths: 762,293— Total recoveries: 13,100,902Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 5,306,215 — Total deaths: 168,334 — Total recoveries: 1,796,309 — Total tests: 65,676,624Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health — FDA releases first-ever list of medical supplies in shortage.
  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.