Credit Card Fraud Penalties

Understanding the Penalties for Credit Card Fraud

As there are a number of ways a credit card can be misused, there are different types of credit card fraud penalties that can be awarded. Depending on various factors like the method used for committing the offence, where the fraud was committed and the financial loss borne by the credit card company, a penalty is levied on the offender – ranging from community service probation to years in prison.

Understanding Credit Card Fraud

To understand credit card fraud penalties, you need to understand the different ways a credit card can be fraudulently used. Here are some of them:

  • Unlawful usage of other’s credit card.
  • Manufacturing duplicate cards and selling them to unsuspecting individuals.
  • Using another individual’s credit card online, by stealing their details through their bank or card account on the net.
  • Providing false information about identity, income etc to the credit card company to obtain a card by swindling the company.

Severity of the Offence

An important factor that determines punishment for credit card fraud is the severity of the crime and the method used. Usually, most of the credit card crimes are committed along with other misdeeds like stealing the physical card or the confidential account details of the victim through the internet.

When an offender steals someone’s card and uses it unlawfully, he will not only be punished for credit card fraud but also for theft. Similarly, when someone steals the confidential details such as personal loans information and uses the card on the internet, it is punishable under both credit card fraud and cyber crime.

The punishment for fraudulent use of a credit card also depends on the money that has been used. Generally, unlawful withdrawal of amounts less than $1000 is considered a misdemeanor and not a severe crime in most parts of the US. Also, if the card is misused in different states, with the offender using up smaller amounts, it may become difficult to detect the fraud and charge the offender for it. Continue reading ‘Credit Card Fraud Penalties’

Credit Card Fraud Protection

Tips to Prevent Credit Card Fraud

A huge number of people in the US are affected by credit card frauds everyday. With an increase in the number of credit card users, there has also been a rise in crimes related to credit cards, including theft, duplication and retrieval of confidential account details on the internet. With the high risk of credit card fraud in the country, here are a few tips you should bear in mind for credit card fraud protection.

Keep Your Cards in a Safe Place
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Credit Card Fraud Reporting

Reporting Credit Card Fraud

As credit card frauds are on the rise, you should take every possible precaution to avoid becoming a victim. But even when you take precautions, there are instances where your card can be misused without your knowledge, which is also considered credit card fraud. In such a case, the first and the most important thing to do is credit card fraud reporting, so that you are not held responsible for the money that has been illegally used on your card. Here are some steps you need to take if you are the victim of a credit card fraud.
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Credit Card Fraud Detection

How to Detect Credit Card Fraud

Transacting at shopping malls and online shopping sites can become very easy and convenient when you own a credit card. But if you do not take the time to manage and check it from time to time, you may end up being a victim of credit card fraud, which can fill your life with stress and worry. To avoid misuse and illegal usage of your card that can lead to financial problems and unnecessary hassles, read the following tips that help in credit card fraud detection.
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Credit Card Fraud Investigation

Types of Credit Card Frauds and the Process of Fraud Investigation

Credit card frauds are becoming increasingly common and prompt action is required on the part of both credit card issuers as well as consumers to check this problem. Here is a list of different types of credit card frauds and the steps you should take in a credit card fraud investigation.

Different types of credit card frauds include:
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Credit Card Fraud Alert

Understanding Credit Card Fraud Alert

A credit card fraud alert is a warning of fraudulent activity that your card may have been used illegally without your authorization. The card holders may request for such an alert to be added to their credit bureau records. Credit card companies can also issue fraud alerts to warn customers of the possibility of fraudulent credit card activity.

Process of Fraud Alert

In case anyone suspects that he/she is a victim of credit card fraud or identity theft, the person should immediately get in touch with any of the major credit bureaus. There are three chief credit bureaus in United States, which include TransUnion, Equifax and Experian. You can contact any of these bureaus, inform them of your suspicions and request a fraud alert to be issued on your credit bureau file.
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Credit Card Fraud Attorney

Role of a Credit Card Fraud Attorney

Credit card fraud is a serious problem that companies issuing credit cards as well as credit card holders have to deal with. In the last year, a huge number of Americans have fallen victim to credit card frauds. The parties involved in a credit card fraud can seek legal representation. A credit card fraud attorney is usually a criminal lawyer who either defends the clients facing credit card fraud charges or represents the victims of credit card frauds.

Who Can Benefit by Employing a Credit Card Fraud Attorney
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