Know How One Can Steal Your Money By Credit Card Fraud

Credit card fraud is one of the most happening fraudulent. This is a mode of stealing somebody’s identity, bank account and money illegally. The purpose of this kind of fraud is to use somebody else’s money and identity for own purpose.

This fraud can be executed by various ways. The credit card can be stolen and can be used to transfer money in other account. This crime can be executed very easily, as it takes so less time to transfer information and money from one place to other. There is internet and ATMs to transfer money in seconds.

The other reason, of being this crime so easy to commit, is that the card holder does not get information about the treachery and till he gets information about it, the work is already done. Credit card fraud can be done in many ways, like the account number and the security code can be traced and copied in the stores where you buy goods. The stolen card can be used to purchase things online, as the seller does not know the identity of the online shopper.

Credit cards have account number, account details and some also have home address imprinted on it. The theft can use the personal data and information of the card holder to make his own account in the bank and for doing illegal things by this fake identity. The incident of Credit card fraud takes place mostly in the big stores, from where the card holder buys thins regularly. While getting payment of the bill by credit card, the store keeper can copy account number and can copy the code number of the card.

The card details and account information are taken long before the stealing of money. This way the card user has not a slightest idea about the future happening. One can prevent these kind of incidents by being alert about the card and its use. Lost of the card should be informed immediately so that it can be blocked.

Credit card fraud is most harmful and is most happening fraud all over the world. A lot of illegal money transfers are done regularly by this kind of fraud.