Credit Card Fraud
August 3rd, 2009 at 11:49pm
Under Credit Card Fraud
Identity theft is on the rise. It used to be something that we only hear about in the movies. That is no longer the case. Each year thousands of Americans fall prey to identity thieves and those that commit credit fraud. If you still think that there is no chance that it would ever happen to you then you are wrong.
For all you know it may already be happening to you. There are innumerable examples of individuals who were blissfully clueless that they are already victims of credit fraud until it was too late.
One of the best ways to protect ourselves is to practice caution: Don’t be as careless as to who and where you are giving out private information. Don’t be lured by the idea of pre-approved credit cards or loans because criminals sometimes use them as mediums to get personal data from you and use it to set up false accounts.
Remember that the best way of protecting ourselves against identity theft is by extreme caution. The trouble is, most of the time – no matter how cautious we are, few things still fall through the crack and important information land in the hands of individuals with malicious intents.
Another more practical and more proactive way is to secure the services of a credit protection agency. This is where a reliable credit protection service provider comes in. Such an agency will help track your credit movement for you; they will inform you if any unauthorized charges have been made or if someone other than yourself is attempting to set up an account in your name.
It works by notifying your bank, credit providers, credit bureau, and you as their client by making real time alerts when a suspicious or unauthorized change in your accounts happen. Also they can detect when a false account is being made using your personal data like your Name, Address, SSS number or Phone numbers.
Depending on the credit protection service, you may be allowed to check your credit status via the internet. This makes it easier for you, especially if you are away on trips and you need to check your credit status. Credit Protection Service providers do not share information with a third party if you yourself do not allow it.
Even people with bad credit need to avail of the services provided by a credit protection agency. You need this to ensure that no one is taking advantage of your account when you are trying to raise your credit rating.
You have made the right decision to improve your credit rating, this will mean better employment and higher mortgage limits in the future. But all this hope will disappear if some fraudster uses your identity and make damaging accounts. The Credit Protection Service can prevent that from happening.
It is important to note that a Credit Protection Service does not help you raise your credit rating nor does it affect it in any negative way. Protecting yourself from identity theft and credit fraud has never been more important, it is absolutely necessary to keep your guard up and prevent identity theft and fraud before it happens.
By Credit Info
August 3rd, 2009 at 07:15pm
Under Credit Card Fraud
I would hope prison!
By Finance Enquirer
August 3rd, 2009 at 06:51pm
Under Credit Card Fraud
Got a call from a guy claiming to be on a litigation team for a credit card company and saying they are filing civil charges against me for theft of services and credit card fraud. After panicking a little, I asked more questions of this guy and he was anxious to take a payment for the amount I owed the CC company. He claimed to already have a court date and a summons that he was about to fax to my county court house. Is this true, or is this a load of crap?
By Finance Enquirer
August 3rd, 2009 at 05:53pm
Under Credit Card Fraud
Probably some of the most common crimes in the USA today are credit card theft and credit card fraud. Most of the time, the two crimes are considered one. This is especially true online.
While physical robbery of a credit card is a part of this crime, it is only a small part. Theft of credit card numbers are far more easily done and more proliferate in today’s society. It can occur in a situation as simple as ordering a pizza. Or paying for a dinner, or purchasing items in a retail outlet. It can even happen online or in any situation where the card need not be swiped.
All that is really needed is the number and the key code located on the back of the card and the thief can begin making illegal purchases. The theft of the credit card can have far reaching implications like taking out loans, rent a house, and even attain citizenship through fraudulent means. In short, stealing a credit card can be identical to stealing someone’s identity.
All of this can mean awhole lot of trouble for the card owner down the road. Should their credit card be used to commit some other crimes, then the card owner could be asked many awkward questions. It can damage the owner’s credit rating, and damage any future chances for a loan. It may even have a negative impact on the card owner’s job prospects.
The least of these negative impacts will be that the card owner will have to pay for charges that they never made. Though, to my understanding, the credit card companies are getting more active about these fraudulent charges.
The first step to be taken in protecting your credit card, is to trust noone with it. Not friends, not family. Noone. This will go along way in ensuring that your card number does not fall into the wrong hands.
The second step it to never reveal your card number publicly. Do not IM it and not over the phone. If you are asked to verify your account by your credit card company, use alternate information such as your birthdate.
The third step is to destroy all credit card statements(and all financial statements) once they are paid and duly accounted for. This can be done properly by using a shredder. The best ones to use are cross cut shredders. A good rule of thumb is the smaller the pieces it makes, the better off you are.
The fourth step is to insist on online banking. This will ensure that your bank statements come to you and noone else. Always use land lines for security instead of wireless. It is always easier to protect your online statements than the one you get in the mail.
The fifth step is never do business with a website that cannot be trusted. Scammers tend to have cheap looking sites which does not have any form of secure payment method. Furthermore, ensure there is some sort of guarantee and that you have the means to return the merchandise if it is damaged.
The final step is to check your credit card statements carefully. If you see any charges you are not sure of, don’t hesitate to ask. It is always better to be safe than sorry.
By Credit Info
August 3rd, 2009 at 01:14pm
Under Credit Card Fraud
A friend of mine used someone elses visa gift card without there permission. She was confronted by the owner and fessed up about it. It was for 100.00 but she didn’t use all of it. She did pay them back the full 100.00 when she fessed up. What kind of trouble can she be in as far as the law is concerned?
By Finance Enquirer
August 3rd, 2009 at 12:50pm
Under Credit Card Fraud
I have credit card and i would like to purchase products online, but i am fear of credit card frauds and hacking the same. So what can i do to purchase items more securely with my credit card ?
By Finance Enquirer
August 3rd, 2009 at 11:51am
Under Credit Card Fraud
There are several ways check fraud is done. It usually means purchasing goods or services and paying with the check that was been stolen from the owner and counterfeited or manipulated. Usually thieves steal the check from the owner, counterfeit owner’s signature and try to use the check for fraudulent purposes. Generally criminals focus on merchants that trade with high-value goods, such as cars. In fact such merchants must be more cautious about accepting checks or banker’s drafts, since they can be stolen or counterfeited and merchants may lose a lot from fraudulent transaction. However as practice shows, such merchant are often deceived due to their negligence.
Criminals often pursue following tactics: they make purchase at the merchant’s store and make a payment through the check or banker’s draft that is of the higher amount than the goods purchased. Criminals assure merchant that the check or banker’s draft will be cleared and ask him/her to transfer excess funds either to their account or to the account of the third person. In fact such a conduct should be alarming for the merchant and should raise a concern that it can be a scam, however in many cases such fraudulent conduct turns to be successful.
In these cases it is extremely difficult to track fraudulent checks in the clearance system. Although banks try to do their best to tackle this kind of fraud, but owner of the check very often does not realize that one of the checks from his/her checkbook has been stolen and moreover money has been withdrawn from the account using the missing check. Sometimes it takes weeks or even month before the fraudulent cash is claimed back.
Since 2007 the banking system through the Check and Credit Clearing Company is amending the ways by which checks are processed. The new system involves the following: in case the fraudulent check is used, merchant retains funds if they are not claimed within six working days with the exception, when merchant voluntarily agrees to give them back, or the merchant is part of the fraud scheme.
Generally banks examine check fraud events case to case, but in most cases if the customer is innocent and just a victim of check theft, he/she is refunded. However if the merchant accepts fraudulent check or check for inflated amount, the merchant is unlikely to get the goods back and he/she is obliged to refund the cash. However after 2007 merchants can be sure that they do not have liability to refund fraudulent cash, if it is not claimed within six working days, unless merchant is part of the fraud scheme.
Despite these changes, banking industry continues to recommend merchants to be cautious about accepting checks; however it seems that these recommendations and actual deeds deeply contradict to each other. On one hand, in the previous scheme merchants were heavily discriminated, since they were the ones who bore all the risk and check owners were the ones, who were not subject to financial loss, despite the possibility that checks could be stolen due to owner’s negligence. The new scheme offers quite a good solution for merchants: if the funds are not claimed in time, then check owner loses them. At the first sight founds fair!
But let us now analyze this situation more deeply. In fact new measures raise moral hazard problem: if merchant knows that after six days fraudulent cash will become his/hers, he/she will have less incentive to control and refrain from suspicious operations, since there is high possibility of retaining these funds. Now let us imagine situation, when a merchant and a thief can find it beneficial to cooperate and can even agree to divide proceeds from the fraud. Why not? Before stealing checks, thieves often gather some information about habits of a victim. If the thief is sure that the person he stole a check from with the high probability will not check his/her bank statement within six days, then the whole operation can turn out to be quite beneficial. This may give rise to the wave of fake transactions, where merchants will be involved.
By Credit Info
August 3rd, 2009 at 07:14am
Under Credit Card Fraud
Whats the penalty for a 17 year old having/using a credit card under my name ? My friend said there should not be any problems and theyre forcing me to do it but im scared.
The card will be under his mothers account but he plans to say she doesnot no who i am.Which she doesnt
By Finance Enquirer
August 3rd, 2009 at 06:52am
Under Credit Card Fraud
I have and I dont no what to do? The radiostation La Kalle in chicago is hard to find,and the address on the brochure is fake and the 1800 # is FREE 411!!!!HELP
By Finance Enquirer
August 3rd, 2009 at 06:39am
Under Credit Card Fraud
Okay, i went to this site http://www.thetaoofmakingmoney.com/2007/…
and learned how to make *Valid credit card numbers.
i went on steam, punched in the credit card info. (all fake)
and i completed the entire thing. im at the point were it is showing me my receipt. Im really wondering if i should press that Purchase button and download the game (half-life2).
i enterd in completly fake billing information and such, and i am not anywhere remotly close to living in the united states.
Will they be able to track me down and arrest me if i push that “Purchase button”?
or will everything go good and i will be with a free game no sweat?
OR~~ will they ban my account all together from steam leaving me unable to play the game?
so…
Should i Go for it? Getting the free game and all?
By Finance Enquirer
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