Identification Methods and Business Preventive Measures for Credit Card Fraud
Introduction This paper concentrates on identification methods and business preventive measures. Why do people fail to notice that credit fraud is a growing problem and what could continue if business and consumers stop believing the seriousness of credit card fraud? The Business community needs increased research and preventive controls that prevent credit and identity fraud. Unless changes are instituted fraud will continue to be a persistent problem. More than half of all adults have experienced some type of cybercrime, and more than one in 10 blames them self, according to a new survey commissioned by Symantec and conducted by independent market research firm Strategy One. Gentry, C.. (2008, June). Risk-less Business. The problem genuinely is a lack of education and training, by both the consumer and the business owner.
Consumers become victims of identity theft and fraud when without prior knowledge criminals acquire personal information. The criminals then commit fraud by purchasing items without the consumer’s knowledge and approval. Preventive measures utilized by both business owner and consumers will substantially reduce the possibility of Credit Card fraud. The frequency of credit fraud is creating an impact on sales and the growth in business. Based on federal trade commission reports more than half of the population has experienced credit fraud. The continued persistent of ignoring the credit fraud problem will lead to lower consumer confidence and the reduced productivity for business owners.
Main Body
Credit Card fraud is the most common type of fraud committed currently against consumers. Criminals pretend to be the victim; calling Credit Card Company’s and changes the victims mailing address on an active account. The necessary information needed for identity thieves is the credit card number, pin number and account number. The problem is the victim does not
Consumers become victims of identity theft and fraud when without prior knowledge criminals acquire personal information. The criminals then commit fraud by purchasing items without the consumer’s knowledge and approval. Preventive measures utilized by both business owner and consumers will substantially reduce the possibility of Credit Card fraud. The frequency of credit fraud is creating an impact on sales and the growth in business. Based on federal trade commission reports more than half of the population has experienced credit fraud. The continued persistent of ignoring the credit fraud problem will lead to lower consumer confidence and the reduced productivity for business owners.
Main Body
Credit Card fraud is the most common type of fraud committed currently against consumers. Criminals pretend to be the victim; calling Credit Card Company’s and changes the victims mailing address on an active account. The necessary information needed for identity thieves is the credit card number, pin number and account number. The problem is the victim does not
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