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).

Go deeper

Twitter launches warnings on election misinformation and delays

Photo: courtesy of Twitter

Twitter will start pinning notices to the top of all U.S. Twitter users’ timelines warning that results in next week’s election may be delayed and that they may encounter misinformation on mail-in voting.

Why it matters: Delayed election results are expected across many states that are handling unprecedented amounts of absentee and mailed ballots, which President Trump has baselessly called "very dangerous" and "corrupt."

Miriam Kramer, author of Space
34 mins ago - Science

NASA confirms water exists on sunny parts of the Moon


Water on the Moon might be more easily accessible than previously thought, opening up new possible avenues for future human exploration, according to a new study.

Why it matters: NASA is aiming to send people back to the Moon as part of its Artemis program by 2024, with plans to eventually create a sustainable presence on the lunar surface. That sustainability relies on mining the moon for its resources, like water.

Updated 1 hour ago - Politics & Policy

Pence no longer expected at Amy Coney Barrett's final confirmation vote

Photo: Ben Hasty/MediaNews Group/Reading Eagle via Getty Images

Vice President Mike Pence no longer plans to attend the Senate's final confirmation vote for Judge Amy Coney Barrett, a Pence aide confirmed to CNN and Politico on Monday. On Sunday, Senate Democrats claimed that his presence after possible exposure to the coronavirus would be a "violation of common decency."

Driving the news: Five of Pence's aides were recently diagnosed with COVID-19, including his chief of staff, who is currently quarantining. Pence has continued his campaign travel despite his possible exposure, which goes against CDC guidelines.