What is credit card fraud?

Credit card fraud is a form of consumer fraud. In Hawaii, it is a crime punishable by law, and the definition of credit card fraud is very broad. Credit card fraud is an illegal use of a credit or debit card, or account information, in order to receive goods, services, money, or anything else of value without the cardholder’s authorization. This type of fraud can be committed in a variety of ways, including creating false identities, forging signatures, skimming cards, and making unauthorized charges. It can also be committed online via phishing and other scams. In recent years, data breaches at retailers have also become a major source of credit card fraud. Hawaii is one of many states that have laws specifically addressing credit card fraud. These laws can range from misdemeanor to felony charges, depending on the nature and extent of the offense. Penalties can include fines, restitution, and up to a year behind bars. In addition to laws, banks and card issuers have put in place fraud prevention measures such as fraud alerts. It’s also important for cardholders to monitor their accounts for any suspicious activity. If they discover any fraudulent charges, they should immediately contact their bank and report the incident. By actively monitoring and reporting suspicious activity, cardholders can help protect themselves from becoming victims of fraud.

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What is credit card fraud?

What is credit card fraud?

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