The credit card you trust with your hard-earned money can be stolen. It’s an unfortunate truth as this crime is becoming more and more prevalent, especially with the advent of digital transactions and the store credit card information. To make matters worse, credit cards often offer a limited amount of protection in these situations. When a credit card is stolen, the thief may take the money off the card, but more often than not, he or she will try to buy something in another person’s name. Identity theft occurs when a thief tries to use her identity to commit fraud.
Laws in most states make it illegal to use a credit card without your permission, but many victims are unaware of this right. Identity theft can ruin a person’s credit and may lead to prosecution for fraud if the thief is caught. Criminal defense lawyers who focus on credit card fraud often see these clients due to the way legislation has changed in recent years. In past years, a credit card company would be liable if they did not report suspicious transactions and provide you with timely notice of an unauthorized transaction. Today, these companies are required to report these offenses to law enforcement within two days.
What is Fraud?
According to the Federal Trade Commission, “Fraud is the intentional misrepresentation of the state of mind or conduct to a person in order to induce that person to act for one’s own benefit or another’s a detriment.” Identity theft is a form of fraud that typically involves obtaining your personal information in order to commit other criminal acts with your name, address, and Social Security number.
It is difficult for a criminal defense lawyer to prove that a credit card bill was stolen. A former client of ours had his credit cards stolen without his authorization, and he tried to get the thief to return the money by presenting his statements. The thief knew how to use the statements and claimed not to have made any purchases using the cards. He then disclosed that he had bought items with other credit cards and was taking legal action against us for fraudulent activity.
What is Criminal Fraud?
The definition of criminal fraud varies by jurisdiction, but the crime is typically considered to be a type of larceny, embezzlement, or theft by false pretenses. Credit card fraud specifically usually involves obtaining a credit card number with the intent to use it without authorization. It is important to ensure that the credit card company has your correct address and phone number so that you can identify yourself when reporting an unauthorized transaction.
Credit card fraud convictions often carry severe penalties, from probation to possible imprisonment. The length of time a person must serve would be based on the amount of money stolen, the amount of restitution owed to the creditor, and criminal history.
What is Financial Fraud?
Criminal fraud can also be classified as financial fraud, which is the unlawful use of a credit card or other lines of credit. This includes obtaining money, property, or services by using someone else’s credit card account. It is important to use a credit card that doesn’t charge any fees, as these may be used for additional charges in the criminal scheme.
Financial fraud can also be committed by a company’s employees. An employee may commit this crime in order to obtain a credit card or cash from the company in order to avoid detection by the authorities and employers. This type of fraud is often considered theft, and penalties for this crime can include fines and time spent in prison.
What is Credit Card Fraud?
Credit card fraud can be committed by anyone who steals a credit card number, uses a stolen credit card or obtains a disguised form of payment using another person’s identity. This crime typically involves taking money from a bank account or cashing in on an overdraft. Credit card fraud may also include identity theft in online transactions that steal personal information like social security numbers and credit cards for the purpose of gaining access to financial accounts.
How is Credit Card Theft Accomplished?
The Federal Trade Commission reports that credit card fraud and identity theft are growing in number. Many people don’t realize how easy it is to steal and use credit cards. They assume that total strangers must have intimate knowledge of their lives in order to use these cards without permission. The reality is that credit card thieves often get information from just one piece of open mail, or they may obtain the digits over the phone by pretending to be a representative from a financial institution or government agency.
Credit card fraud is becoming more and more common. It can be committed by anyone who obtains your credit card number, uses your credit card without authorization, or steals information from an online transaction. The Federal Trade Commission reports that the majority of these transactions are reported within two days, but it is important to act quickly to protect your identity and stop criminals from using your name.