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4 Types of Credit Card Fraud

Credit card fraud is a term that broadly refers to various types of theft and fraudulent behavior relating to credit cards. Generally, this type of crime involves compromising or stealing credit card information. However, credit card fraud comes in a variety of shapes and forms. 

Due to the fact that credit card fraud can describe a wide range of activities, it is important to understand the most common types.

1. Stealing and using a card

Using a card that belongs to someone else without their permission is one of the most common types of fraud. This may involve physically taking the card or stealing the information by other means such as a skimmer. Make sure you have permission in writing whenever you use a credit card that is not yours. 

2. Account takeover

An account takeover happens when a fraudster obtains personal information from a cardholder. These personal details often include the home addresses, answers to security questions and Social Security numbers. Once the criminal has this information, he or she contacts the issuer and requests a change of address. This lets the fraudster get a new card.

3. Application fraud

Another criminal activity relating to credit cards is when someone uses the personal information of another individual to apply for a credit card. This type of fraud usually occurs along with identity theft because the fraudster often needs to forge documents.

4. Credit card forgery

Credit card fraud also refers to making a fake card. Criminals can make counterfeit credit cards when they obtain credit card information through skimmers. 

Even though credit card technology and security are advancing, credit card fraud is still common. It is difficult to get away with credit card fraud without getting caught by a camera or an IP address tracker. Remember, if you face criminal proceedings for credit card fraud, you may face fines and imprisonment.

Like every other crime, there are defenses to credit card fraud charges. An experienced criminal defense attorney can review your situation and discuss possible defense strategies.