Roughly $2.8 million worth of credit revenue is thought to result from credit card fraud per year.
Delta, PA -- (SBWIRE) -- 05/13/2013 -- Legal-yogi.com has credit card identity theft statistics, as well as ways to avoid becoming a victim of any type of fraud, which it would like to share, such as:
- Technology and Credit Card Fraud
- Credit Card Fraud Types
- CC Fraud and ID Theft
- Prevent Loss of Social Security Numbers
Credit Card Fraud and New Technology
Purchasing items online with a credit card is convenient, but this technology makes it simple for credit card scammers to obtain the numbers. A credit card fraud victim is mostly targeted on the Web, as opposed to in retail stores, because many sites are simply not secure. Charge card counterfeiters are relying on the most recent technology to encode, decode, or emboss cards, stealing their magnetized information.
Types of Credit Card Fraud
There are many kinds of credit card fraud that contribute to identity theft statistics, such as lost or stolen cards, counterfeit card, and identity theft fraud. Of these, 37% of all fraud is from counterfeit cards. Stolen or misplaced cards make up 23%, and identity theft fraud accounts for 4%. All of these can damage a person’s credit standing a great deal, so take some steps to keep card numbers safe, such as making sure all online sales are conducted through secure websites.
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Identity Theft and Credit Card Fraud
When someone becomes a credit card fraud victim, it is likely that his identity will be stolen soon after. The connection between the two crimes is easy to discern: Once a thief has one’s credit card information, he can go online and access more personal data. He then uses that to open new credit accounts, buy cars, and take out mortgages on houses. Perhaps if there were effective ways to catch these thieves, these felonies wouldn’t occur so often.
Keep SSNs Safe
If the theft of someone’s Social Security number (SSN) happens, let the Social Security Administration know right away. It cannot give a person a new number, but it can point the way to other reporting agencies. The Federal Trade Commission has a branch of enforcement officers that just go after identity thieves. Unfortunately, there are so many of them each year, few of them result in an arrest. Local police stations can take a report, also, but they may not be successful in catching the thief, either.
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