Though the U.S. may be a leader in technological developments, according to Seer Press News, credit card fraud. protection is not as advanced in America as it is in other nations, causing credit card thieves to set their sights on U.S. consumers.

Canada, along with several European and Asian countries, is currently adopting new technologies that help protect sensitive information used to complete transactions and consumer identity profiles. However, the U.S. has not maintained the same level of vigilance.

"The U.S. is becoming the most favored nation for credit card fraud.," senior analyst with the Aite Group, Wes Wilhelm, told the news source. He added that credit card fraud. has cost the U.S. anywhere from $8 billion to $10 billion.

The new technology prevalent in other countries features a microchip implanted into credit cards that encrypt the card holder's data and requires a PIN to operate the card.

The Federal Trade Commission reports that there are approximately 9 million cases of identity fraud. in America each year. U.S. consumers would be wise to find other ways to guard their information, such as using a secure payment company when shopping online.