How to Report Credit Card Fraud
Technological advancements give rise to more and more sophisticated crimes. One such area is the fraud associated with credit cards, which are also treated as identity thefts. Along with the increase in the number of credit cardholders, there is a corresponding rise in the number of crimes related to it. Any person can be a victim of credit card fraud and so, it is always better to have some knowledge regarding how does a credit card fraud happen and how to report such fraud.
What is Credit Card Fraud
It is a term which encompasses a very wide range of theft or fraud committed, involving credit cards. These frauds may be aimed at buying goods or obtaining funds using somebody's credit card. A credit card fraud can happen in any of the following circumstances. The most common reason for such fraud is a lost or a stolen card. Credit card statements or the credit card itself may be stolen from mail boxes. Dishonest employees of the business establishments can use the details of your credit card number. Even the customer care agents, who engage in telephonic conversations regarding credit card transactions, have access to the numbers and may misuse it. There are instances of stealing credit card information from those statements and other written transactions regarding credit cards. Even online transactions are tracked by criminals, who record these transactions by implanting high-tech viruses. Credit card frauds may include application fraud, which refers to a fake application by a criminal to open an account in some other person's name. It can also happen when the account of a genuine person is taken over by a criminal, who collects information about the victim.
Reporting Credit Card Fraud
As mentioned earlier, any person can be a victim of credit card fraud, as more and more sophisticated techniques being integrated into the crime scenario. The following are some guidelines about how to report a credit card fraud.
- The first step you have to take is to obtain a free credit report online. Otherwise, you can get one by contacting a credit bureau.
- The next move should be to file a police report. Either you can go in person to file the report or you can do it over the phone. Once the report is filed, you must obtain a hard copy of the report, which can be used in future.
- Another important step to be taken, in case of credit card fraud, is to intimate your bank about the fraud and request the bank to freeze your accounts. You may further request the bank to change the number of the accounts you hold in that bank, so that nobody can fraudulently gain access to these accounts.
- You must monitor the transactions made by using your credit card. For this purpose, you have to make a telephonic request to the number given behind the credit card.
- Apart from all the aforementioned steps, you must report the fraud to the Federal Trade Commission, which can provide you with the information regarding your credit history.The credit card company must also be intimated regarding the fraud.
