In this fast paced technology dependent world that we are living in, most of the purchases and payments are done online. Hence, the risk of credit card fraud theft is on the rise these days and many of the credit card holders only know about it after they receive their monthly statement from the credit card companies. Some of the common credit card fraud types are: bank credit card fraud, business credit card fraud, gas station credit card fraud and so on. One of the top most white collar crimes that has been reported all over the world is the various credit card fraud schemes that people use to make money or purchase things at the expense of other humble people. Paying for your purchases through credit card is when most of your credit card information is gathered by scammers and skimmers. This is the most common way how credit card frauds work. They rob all your credit card information and use your card for their purchases or to rob all your credit balance.
Credit Card Fraud Skimming And Credit Card Fraud Identity Theft
One of the most common credit card fraud techniques that are practiced these days is credit card fraud skimming. This is a type of credit card fraud where the merchant or an employee scans their customer’s credit card information and then sells it to people who make multiple fake copies of the credit card and use it to their advantage. An identity theft credit card fraud normally occurs when your credit card and personal identity cards gets stolen and someone else uses your credit card data to commit fraudulent purchases. Here too, the thief uses your credit card to make purchases and some of them who are successful in credit card fraud and identity threat might stoop to such a level that they use your identity card to open new bank accounts and get loans from bank.
Personal Card Fraud And Non Receipt Card Fraud
A personal credit card fraud theft is one wherein the card user purchases some goods and later claims that someone else has made the purchase on his card and that his card is stolen. The outcome will be that the card holder will not be required to pay money for his purchases as his card has already been stolen. A non receipt card fraud is one where the customer informs the bank that he or she is not liable to pay the monthly bill as the new or replacement card that the bank sent through mail has not been received by them. Nowadays, many credit card banks will only activate the new card after the customer calls back the office to activate the card.
Non Receipt of Goods And Stolen credit Card frauds
Some of the other common credit card fraud techniques that most people use is the stolen credit card fraud type where a person who steals one’s card uses the card to make purchases in stores as well as carries out online transactions. Non receipt of goods credit card fraud technique is one wherein the customer who buys goods and services through the credit card from a store calls up the company to inform that he or she has not ever received the items. So, there are plenty of credit card fraud techniques that are utilized by people to cheat on their banks and the banks need to keep a track on whom they should allot a credit card.