Credit Card Fraud: Theft, Fraud, Credit card, Identity theft, Basis point, England, Chargeback insurance, Credit card hijacking, Financial crimes, Friendly fraud book review.
Credit card fraud by the editors Frederic P. Miller, Agnes F. Vandomeand John McBrewster is a broad-based term for theft and fraud committed using a credit card or any similar payment instrument as a fraudulent source of funds in a transaction. The purpose may be to obtain products without paying, or to extract unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft. According to the FTC, while identity theft had been holding steady for the last few years, it saw a 21 percent increase in 2008. However, credit card fraud, that criminal act which most people associate with identity theft, decreased as a percentage of all identity theft complaints for six years in a row now.