What are the different types of credit card fraud?
• ‘Counterfeit’ is the most common type of credit card fraud duplicating legitimate credit cards which are then used for fraudulent activities. • ‘Card Not Present’ fraud is done as an unauthorized usage of credit card information for fraudulent activities over the internet, phone or mail. • ‘Lost/Stolen’ fraud is the unauthorized usage of a credit card as a result of it being lost or stolen. • ‘Identity Theft’ is obtaining personal or financial information of another person for the purpose of assuming that person’s name to engage in fraudulent activities.
