What is credit card fraud?

Credit card fraud is a form of consumer fraud that occurs when someone unlawfully uses another person’s credit card information to make purchases or gain access to funds. It is typically a type of identity theft, where the thief obtains enough information about their victim to be able to gain access to their credit card account. Types of credit card fraud vary, but they usually involve someone acquiring a credit card without authorization or using a valid card without the cardholder’s knowledge. In Washington, credit card fraud is illegal and punishable under the Washington Consumer Protection Act. This act states that any person who knowingly takes or uses a card, account number, or other information without the cardholder’s consent is guilty of a Class C Felony. Further, any person who knowingly uses a card, account number or other information with the intent to defraud the cardholder or issuer of the card is guilty of a Class B Felony. The punishments for credit card fraud vary in severity depending on the amount of money stolen. Generally, those who are convicted of credit card fraud have to face fines, jail time, and in some cases, restitution is also imposed on them. Credit card companies have also increased their security measures to reduce fraudulent activity which includes implementing fraud prevention systems, verifying the identity of customers, and sending security messages to customers when suspicious activity is noticed.

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What is credit card fraud?

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