Credit card fraud can be classified into several different categories, each with their own definition. It may also be referred to as card cloning, or impostor fraud. Credit card fraud, by definition, refers to the illegal or unethical use of your credit card to commit fraud.
There are several different types of credit card fraud, and each category has a variety of different techniques used to commit the crime. Credit card fraud can range from simple, unimportant incidents, such as someone not paying their bill, to extremely illegal acts, such as spending too much on a single item, without having enough money in their account to cover it. Credit card fraud can also include instances where someone uses your credit card when they don’t have it, leading you to believe you are actually paying the bill, when in actuality they have access to your account.
The majority of credit card fraud falls into one of the categories mentioned above, but there are a few other categories that are less common. For instance, you can commit credit card fraud when you make your card available over the internet, such as through a website, and then use it to buy things. There are also situations where your card is lost or stolen and then used, such as when you go to the ATM machine, instead of carrying it with you at all times.
Credit card theft is the second most common type of credit card fraud. In this situation, someone gets hold of your card information and then uses it to purchase something they don’t want, or can’t afford. Often times, these people will steal money from your bank account before doing this, which is why you always need to be careful with what you put on your credit card statement.
If you have ever experienced credit card fraud, you probably don’t want to experience it again. Fortunately, it doesn’t cost much to stop it from happening. One way to ensure your money isn’t lost or stolen is to simply change your card PIN. This can be done for free at your bank, or online. Make sure to read over all of your credit card statements carefully, especially if it has expiration dates.
Card cloning is another way that people try to obtain credit from you, and often happens when someone has a very limited card that has a lot of credit limits. By cloning your card, they are able to open new accounts and keep the original cards for themselves. It’s important to realize that if they do, they’re stealing from you.