Credit Card Fraud

4218 words 17 pages
Help (new window) Logout | Monash Email Help |
Top of Form
Bottom of Form * Basic * Advanced * Topics * Publications * My Research
0 marked items | -------------------------------------------------
Top of Form Interface language: | | |
Bottom of Form | Databases selected: Multiple databases... |
Top of Form Document View | | | Print | Email | Copy link | Cite this | Mark Document | Translate document from:
…show more content…

The median loss associated with credit and debit card fraud was $427.50.
There are many different types of credit card schemes and applications, but one of the more simple methods involves the unauthorized use of a lost or stolen card. According to MasterCard International, while credit card fraud through the use of stolen cards comprises 22.4 percent, fraud through the use of lost cards comprises 16.4 percent. Together, they comprise 38.8 percent of all credit card fraud. Fraudulent activity normally occurs within hours of a card being lost or stolen. At times, the discovery does not even become evident until the victim receives the monthly statement and then realizes the fraudulent use or occurrence. It is extremely important that the victim report the loss or theft of the credit card within three days of its disappearance. During this three-day period, the victim is not held responsible for any charges occurred through fraudulent activity. It is imperative that credit card users know the location of their cards at all times.
Another form of credit card fraud is commonly known as non-receipt fraud. This occurs when the credit card is stolen while in transit between the credit issuer and the authorized account holder. There was a time that this was a big problem. In fact, cartels infiltrated the postal system and paid letter sorters and


  • Internet Fraud: an Overview of Classifications, Government Actions, and Consumer Protection
    3669 words | 15 pages
  • Identity Theft
    3002 words | 13 pages
  • Paypal Ms Case in Harvard Business Review
    1273 words | 6 pages
  • TJX the largest-ever consumer data breach
    1064 words | 5 pages
  • Aat Level 4 Help
    1787 words | 8 pages
  • Australian Personal Property Securities Laws
    3183 words | 13 pages
  • Employee Theft
    1065 words | 5 pages
  • Isys
    15185 words | 61 pages
  • The Ipremier Company: Denial of Serivice Attack. Case Analysis
    1548 words | 7 pages
  • Starting a Business Online, Part 1
    2338 words | 10 pages