Credit card fraud

Credit card fraud is one of many form of frauds that involve credit cards, charge cards, debit cards, or prepaid cards.

Related Topics:
Frauds - Credit card - Charge card - Debit card

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Credit card fraud is a kind of fraud where a merchant (business, service provider, seller, etc.) is "tricked" into releasing merchandise or rendering services, believing that a credit card account will provide payment for goods/services. The merchant later learns that they will not be paid, or the payment they received will be reclaimed by the card's issuing bank.

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Typically, the fraudster causes a credit card of another person to be charged for a purchase. Today, half of all credit card fraud is conducted online, meaning that the fraudsters make online purchases with the credit card details of other people.

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