Preventing Credit Card Fraud and Identity Theft

2011 Words5 Pages

Credit card fraud is the activity when someone uses your credit card without your permission, like when someone put an unauthorized charge on your account. It means that you take someone else’s credit card and use it as your own (yahoo, 2008). Credit card fraud is a term for theft and fraud to use a credit card or as a fraudulent source of funds in a transaction. The purpose of credit card fraud is to obtain goods without paying, or to obtain unauthorized funds from other person’s account (ASK, 2013). Credit card fraud taking unauthorized credit card information to charge purchases to an account or to eliminate the capital from it called identity theft. Furthermore, credit Card Fraud is a comprehensive term which use for stealing and scheme dedication by using a credit card as a fake source of capitals in a business. The purpose of such action is to gain unconstitutional or illegal assets from an account in order to acquire properties without paying. Besides, Identity theft is a form of identity hold-up in which someone pretends to be someone else by having someone else’s identity and credit card fraud is similar to identity stealing (Wikipedia, 2013).
As a detection process, United States Federal Trade Commission, clarity that credit card fraud for identity theft was steady in 2008, but in the past few years 21 percent increased. Nevertheless, the commission added that credit card fraud is a kind of crime which people count it as an “ID theft”. Though, credit card fraud is restricted in every transaction which takes place, but in huge transaction credits card fraud happen. Indeed, the fraud in credit card transaction has been limited to 0.1 percent. In 1999 the 12 billion transactions which was made yearly, around 10 million or ...

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...ncyclopedia, Oc 17, 2103. Web. Dec 8, 2013. .
Wikipedia.org, Identity theft.Wikipedia, the free encyclopedia, Dec 2, 2103. Web. Dec 6, 2013. .

ASK. (2013, December 12). Credit Card Fraud. Retrieved from ASK: http://www.ask.com/wiki/Credit_card_fraud controller, O. o. (2008, December 08). Fraud Detection Services for Card-Not-Present Transactions NC Office of the State Controller. Retrieved from osn.nc.gov: http://www.osc.nc.gov/SECP/Card_Fraud_Detection.pdf
Government. (2011, 06 22). Credit Card Fraud in Singapore is on the Rise. Retrieved from Export.Gov: http://export.gov/pennsylvania/pittsburgh/avoidingoverseasfraud/eg_us_pa_035093.asp yahoo, a. (2008, April 08). What is credit card fraud? Retrieved from Yahoo: http://answers.yahoo.com/question/index?qid=20080408093748AAAVrOo

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