Credit card fraud is highly publicized in this era and you should know what it looks like. This is the most common and simplest form of identity theft. All it would take is having someone else’s name, address, date of birth, and social security number. With all the pertinent information on a person one can get loans, and open new bank accounts. Also, someone could use the person’s existing bank account. Just about anything can be accomplished with someone else’s information. Simple and thought to be unimportant information could turn out to be very valuable information to a person doing credit card fraud or identity theft.
A simple definition of credit card fraud is illegally obtaining goods, funds, or services deceptively. The amount of time for this type of fraud to be discovered can vary. Credit card fraud, better known to others as identity theft, can cause great turmoil in a person or family’s life by taking away their sense of security. Credit card fraud does not mean, necessarily, that a person has to have the card; the only thing a person really has to have is the card number, expiration date, and the three-digit card verification number on the back with the card holder’s name. In most cases of credit card fraud the person committing the fraud actually knows the person quite well and the address to where the bill is sent.
With all of this being said, when it comes to you or your family’s finances be careful. Someone you think you know and trust can very easily steal your credit card information, or even personal information to use for his or her own personal gain. Credit card fraud is just as simple as ordering things over the Internet or the phone. A person can make a copy of your card and use it with few, or no, questions asked. Fraudulent use of a credit card has become a popular way of theft because it is much simpler and convenient. I guess that is why credit card fraud is still considered a white-collar crime and an increasing way of theft.
Convenience is why most people are defrauded. The reason I make this statement is because most would choose to pay a bill or buy something over the Internet verses actually going to the store to make a purchase. The Internet is not the safest source to make a purchase or to pay bill, because of people using fake websites to gain personal information to access your credit card information. Credit card fraud and identity theft go hand in hand; but to commit credit card fraud you would need to know a few personal information, and having someone else’s information constitutes as identity theft. However, when a person is arrested for credit card fraud they are not charged with identity theft, but in my opinion the person should have been charged for both.
Some things a person should never do is leave important documents lying around, or throwing away bills that may have personal information on them without shredding them, or allowing someone to use your card for any reason. People that...