What is Credit Card Fraud

What is Credit Card Fraud?

While credit card fraud can potentially involve highly complicated schemes, more often than not, credit card fraud involves mundane transactions that cross a legal line in one way or another. The fact is that credit card fraud – in all of its forms – is a serious crime that can lead to significant financial losses. If you have been the victim of credit card fraud, don’t wait to consult with an experienced consumer fraud attorney about how you can recover and hold fraudsters liable.

Credit Card Fraud: The Basics

Because most of us use our credit cards on a daily basis, credit card fraud is a common offense that takes a variety of basic forms.

Credit Card Fraud by False Statements

Credit cards are issued in accordance with applications, and when the person seeking a credit card provides false information like any of the following, it is a form of credit card fraud:

  • The applicant’s name
  • The applicant’s social security number
  • The applicant’s address
  • The applicant’s income

Credit card fraud by false statements takes a particularly serious turn when the applicant attempts to obtain a credit card based on someone else’s personal information (which is a form of identity theft).

Credit Card Fraud by Forgery

Credit cards that are counterfeited (or illegally altered) are illegal to create, possess, or use.

Credit Card Fraud by Possession or Theft

Taking someone else’s credit or debit card – without the owner’s permission and with the intention of using it or of selling it – is a form of credit card fraud (whether or not the accused ever uses or sells the card). Consider all the following examples:

  • Taking a credit card without permission to do so
  • Receiving a credit card mistakenly (such as through misdelivery) and proceeding to use, sell, or give it away
  • Accepting or purchasing a credit card that is known to be stolen
  • Accepting or purchasing a stolen credit card with the intention of selling it
  • Selling a credit card in any capacity
  • Purchasing a card from anyone other than its issuer

Fraudulent Use of a Credit Card

Sometimes, credit card fraud focuses entirely on how the card is used, including the following common examples:

  • Using a credit card that is known to have been revoked or that is expired
  • Intercepting personal information at an ATM (to be used for fraudulent purposes) through a credit card skimming machine or another mechanism
  • Accepting money or other valuables obtained via someone else’s fraudulent ATM use
  • Selling something to someone who is known to be using a stolen or falsified credit card
  • Using a stolen or falsified card at an ATM

Discuss Your Claim with an Experienced Consumer Fraud Attorney Today

If you were the victim of credit card fraud, you might have lost substantial funds. The dedicated consumer fraud attorneys at Varcadipane & Pinnisi PC, recognize the serious nature of your situation and have the legal insight, determination, and experience to skillfully advocate for your case’s most favorable resolution. Learn more about how we can help by contacting us today.

Jeffrey W. Varcadipane

Jeffrey W. Varcadipane is a Managing Partner at Varcadipane & Pinnisi PC and practices in both New York and New Jersey. He handles a variety of matters including civil and commercial litigation, appellate practice, real estate and business law.