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Credit card fraud happens when someone uses another person’s credit card to either make unauthorized purchases or to withdraw/transfer funds.
There are two main ways that credit card fraud takes place. The first method involves someone either finding or stealing another person’s credit card. Instead of turning it in, the person decides to put the credit card to use and goes on a shopping spree.
The second way that credit card fraud happens is when one person hacks into another person’s credit card accounts, steals the numbers, and starts using them for themselves.
The good news is that you have it in your power to limit the amount of strain both types of credit card fraud puts on your life. The first thing you need to do is become vigilant about checking your credit card statement for unfamiliar charges. The best approach is to have email alerts sent to you each time your card is used. If that’s not possible, get into the habit of logging into your credit card account and checking the transactions at least once a day.
As soon as you see charges that you didn’t make, you need to leap into action and arrange to have your current credit card canceled and a new one issued. Once you’ve done that, start working with your credit card company to get the charge reversed. The sooner you contact the insurance company, the better.
California lawmakers take credit card fraud very seriously. Using another person’s credit card without that person’s permission is illegal. The exact consequences depend on which of California’s laws were broken. In some cases, credit card fraud is only a misdemeanor while in others it is treated as a serious felony. In serious cases, someone who is convicted of credit card fraud in California could be sentenced to three years in prison and also be charged a large fine.