What Is Credit Card Fraud? Definition & Examples

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According to analysis by security researcher Brian Krebs, cybercriminals generate a new scam per card of between $100 and $500. The annual damage volume could amount to up to $15 billion – a trend rising. The reason: A technical innovation that revolutionises the classic "Carding." The path to map data follows familiar patterns: The perpetrators create massive Apple and Google accounts, through which they send fake messages from parcel services …

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What Is Credit Card Fraud? Definition & Examples

Credit card fraud is when someone else uses your credit card information to make unauthorized purchases, or when they impersonate you in order to open a credit card account in your name. This is a big problem, as reported cases of credit card fraud cost the U.S. more than $200 million per year, according to the Federal Trade Commission. Some estimates also put the total impact in the billions. The good news is that credit card fraud doesn’t have…