Credit Card Fraud

Credit card fraud has been one of the most rampant types of fraud today. A Los Angeles credit card fraud lawyer may define credit card fraud as fraud or theft done through another person’s credit card. People who perform credit card fraud usually have the goal of buying goods without having to pay themselves, thus, the victim’s card is used for the transactions. A Los Angeles criminal attorney may relate credit card fraud with another form of theft which is identity theft because people who use stolen credit cards to shop also pretend to be the card owner to be able to push through with their purchases.

You may learn from a Los Angeles criminal attorney that the losses that result from this kind of fraud usually amount to billions of dollars per year. Credit card fraud may start with stealing another person’s credit card, or mainly using the credit card information of the victim, specifically in making Internet purchases.

Some victims may not even realize that their accounts have been used illegally or have been compromised until they receive billing statements of unknown charges. The financial institutions or the banks more often than not, fail to notice that a fraudster is using the card, unless they receive complaints from the real owner.

There are some countermeasures set up by most banks however to be able to detect if credit card fraud is present in a transaction. An example would be verifying information such as contacting the credit card owner if the transactions are being made outside of the country, or if the total amount of transactions for the day is very high and unusual for the said owner. Once the bank becomes suspicious of credit card fraud, the card may be blocked or the merchant may be instructed to hold the card until verified further.

Most of the credit card fraud offenders remain unpunished since it may not be that easy to catch them. Most of the time, law enforcement officers may not really do everything to solve a case of credit card fraud unless the total amount of loss reaches over $150,000, specifically in the United States. Usually, the amount of loss, the place where credit card fraud was committed, etc. are looked into first before investigators decide to do everything they can to catch the fraudster.

At present, millions of accounts all over the world are being compromised, so you have to be cautious about giving out your credit card information, especially over the Internet. In the event that you are a victim of credit card fraud, or are charged with it, obtain the services of a Los Angeles credit card fraud lawyer immediately to be able to take the right steps.