New York Civil Rights And Criminal Defense Lawyers

What are the kinds of credit fraud, and how serious are they?

On Behalf of | Monday Jun 22, 2020 | Criminal Defense

Credit card fraud is a significant problem in the United States, which is why it’s taken so seriously by the government. It’s a federal crime, and you can face time in prison or other harsh penalties if you get caught stealing another person’s credit cards or identity.

The United States has the most cases of credit fraud in the world based on the fact that cases in this county make up 38.6% of all cases worldwide. Most fraud in the U.S. starts with telephone or email fraud.

What is credit card fraud?

Credit card fraud includes several different acts. These may include:

  • Taking the account number, PIN and security code off someone’s credit card to use illegally
  • Using skimmers on cash registers and point-of-sale systems to take a customer’s card information and create a duplicate for later use
  • Setting up a fake website to appeal the same users as another legitimate website and then stealing the users’ information
  • Taking a person’s physical credit card and using it in person or online to make purchases

Any of these acts, or a combination of them, constitute credit card fraud. Fraud like this adds up; in 2018, $24.26 billion dollars were spent around the world because of credit card fraud.

If you are accused of any of the above or other types of credit-related crimes, it’s important for you to protect yourself. This is a serious accusation, and you could be looking at time in jail or heavy fines. False accusations and mistakes do happen, so it’s important to learn more about your rights and how to protect yourself if you are charged.